When dealing with MSB registration, the formal process of registering a Money Services Business with the appropriate regulator. Also known as Money Services Business licensing, it makes sure companies that move money, run crypto exchanges, or provide payment services follow the law. Proper registration is the first step to building trust with customers and avoiding costly enforcement actions.
The Money Services Business (MSB), a broad category that includes money transmitters, currency exchangers, and virtual asset service providers sits at the center of financial compliance. To operate legally, an MSB must align with Anti-Money Laundering (AML), rules designed to prevent illicit funds from flowing through the financial system. In the United States, the Financial Crimes Enforcement Network (FinCEN, the Treasury department agency that oversees AML compliance for financial entities) requires every MSB to file a registration form, maintain a robust AML program, and submit regular reports. These three entities create a chain of responsibility: MSB registration requires AML controls, and FinCEN enforces those controls through periodic reviews and penalties for non‑compliance.
First, you’ll need to define your business model clearly—are you a crypto exchange, a payment processor, or a traditional money transmitter? Next, gather the required paperwork: identification documents for owners, a detailed compliance plan, and a risk‑based assessment of how you’ll monitor transactions. After submitting the registration to FinCEN, the agency assigns a unique identifier that must appear on all official communications and filings. Ongoing obligations include filing the BSA E‑Filing Form 107, conducting regular employee training, and updating your AML program whenever regulations evolve. Ignoring any of these steps can trigger fines, suspension, or even criminal charges.
Below you’ll find a curated collection of articles that break down each part of the process. Whether you’re just starting a crypto wallet service or you run an established money‑transfer firm looking to expand into digital assets, the posts cover practical guides, regulatory deep‑dives, and real‑world examples. Expect step‑by‑step tutorials on filing the FinCEN form, building an AML policy that passes audits, and navigating the gray areas where crypto regulations intersect with traditional MSB rules. Dive into the list to sharpen your compliance strategy and keep your business on the right side of the law.
In 2025, crypto businesses in the U.S. must navigate a patchwork of federal and state licenses. From FinCEN registration to New York's BitLicense, compliance is costly and complex-but essential for survival.
Step‑by‑step guide on obtaining a crypto exchange license, covering federal MSB registration, state BitLicense, costs, documentation, and ongoing compliance.