MSB

Project description

The US MSB license is a financial license supervised by the Financial Crime Enforcement Bureau of the US Treasury Department. The main target of the supervision is the money service related business and company. The scope includes international remittance, foreign exchange, currency trading/transfer (including digital currency/virtual currency), ICO issuance, provision of prepaid items, and issuance of traveler's checks. Companies engaged in the above related related businesses in the United States must apply for an MSB license in order to operate legally.

Supervision

Founded in 1990, FinCEN aims to support federal, state, local and international law enforcement by analyzing the information required by the Bank Secrecy Act (BSA). Over the years, FinCEN employees have developed their expertise in adding value to the information collected by BSA by discovering the unknown information contained in the leads.

During FINCEN supervision, it is important to demonstrate that the required documentation is in place and that the employees, agents and all others authorized to act on your behalf are well trained and able to effectively implement all elements of the compliance program. . Senior officials must approve compliance programs, and compliance officers must have the necessary authority to enforce compliance program requirements.

FinCEN issued Application of FinCEN's Regualations to Persons Administering, Exchanging, or Using Virtual Currencies on March 18, 2013 (the FinCEN Rules apply to personnel management, exchange or use of virtual currency guidelines), which clarifies business and The requirement for individuals to use virtual currency in MSB registration. MSB is the abbreviation of Money Services Business. It belongs to FinCEN (the Financial Crime Enforcement Bureau under the US Treasury). It belongs to the registration and licensing system. All businesses involved in money service must apply for the license.


relevant information

Previously, the head exchanges such as Firecoin, OK, and Coin have successively announced that they have obtained the US MSB (Money Services Business) license, which has attracted the attention and discussion of many exchanges, and gradually matured with the STO rules under the dynamic supervision of the US SEC. Many exchanges also began to consult related matters, so our team improved the MSB application project and provided MSB license application service. After the application for the license is completed, you can check it on the MSB official website financial supervision classification website.