A corporation of state regulators within the U.S. has introduced a brand new streamlined course of for cash transmitter licensing that can save cry
A corporation of state regulators within the U.S. has introduced a brand new streamlined course of for cash transmitter licensing that can save crypto companies from getting separate licenses in 40 states.
The Sept. 15 announcement from the Convention of State Financial institution Supervisors (CSBS) has set out parameters for state licensing that can contain a single examination administered by examiners from throughout the nation.
The ensuing license will enable holders to function in all however 10 states within the U.S. The CSBS has but to answer Cointelegraph’s request to specify which is not going to be included, however the doubtless candidates are the most important markets with historically extra intensive regulation, particularly New York and California.
The CSBS hopes that underneath the brand new system “regulators will achieve extra perception whereas additionally releasing up state assets.” The modifications will take impact in 2021.
This story is growing and shall be topic to updates.