FatherTimee

If a Money Service Business (MSB) holds money & makes payments for customers outside of the US ONLY.. do they need Money Transmitter Licenses?

Maybe only in the state they’re operating in if all the customers are international?

In a previous job, I made a lot of connections with international business owners. Many of them own/operate large fintech, development, or crypto companies that find it difficult to obtain access to US banking services & dollars (many US banks deem these industries as ‘high-risk’, but reserve accounts for only major corporations - not impossible to get an account, but very hard).

Many of my clients will ask if I can provide US Dollar settlement to support their business operations. With the opportunity, I’ve filed a DE entity, registered as an MSB via FinCEN, and crafted a very stringent KYC/AML policies to govern who my business will settle transactions for (only ones who meet proper US co