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Money Services Business (MSB) Registration Services
Money Services Business (MSB) Registration Services
Fintechs that move money or value often need to register as a Money Services Business (MSB) with FinCEN and obtain money transmitter licenses at the state level. We help companies understand the regulatory requirements and guide them through both FinCEN registration and the state licensing process.
Fintechs that move money or value often need to register as a Money Services Business (MSB) with FinCEN and obtain money transmitter licenses at the state level. We help companies understand the regulatory requirements and guide them through both FinCEN registration and the state licensing process.
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As seen on:
As seen on:
Eligibility
Eligibility
Who Needs to Register as a Broker-Dealer?
Not every firm involved in securities must register as a broker-dealer, but most entities that buy or sell securities for themselves or on behalf of others are required to. Below are common types of businesses that typically must register.
Payment Platforms
Apps and platforms that let users send, receive, or hold money on their behalf often qualify as money transmitters and need an MSB registration.
Payment Platforms
Apps and platforms that let users send, receive, or hold money on their behalf often qualify as money transmitters and need an MSB registration.
Crypto Companies
Exchanges, wallets, or platforms that let users buy, sell, or transfer crypto are considered MSBs under FinCEN guidance.
Crypto Companies
Exchanges, wallets, or platforms that let users buy, sell, or transfer crypto are considered MSBs under FinCEN guidance.
Prepaid and Stored Value Providers
Businesses that issue or manage prepaid cards or digital value (like wallet balances or credits) are generally required to register.
Prepaid and Stored Value Providers
Businesses that issue or manage prepaid cards or digital value (like wallet balances or credits) are generally required to register.
International Payment Tools
Any service that sends money across borders or uses blockchain to move value between users is likely required to obtain state-by-state money transmitter licensing.
International Payment Tools
Any service that sends money across borders or uses blockchain to move value between users is likely required to obtain state-by-state money transmitter licensing.






Steps
Steps
How to Register as a Money Services Business and Get State Licenses
01
Confirm If MSB Rules Apply
Identify where your customers are and what your product does. This helps determine which state licenses you'll need and whether federal MSB rules apply. If you transmit money or value for users, you likely fall under MSB rules.

01
Confirm If MSB Rules Apply
Identify where your customers are and what your product does. This helps determine which state licenses you'll need and whether federal MSB rules apply. If you transmit money or value for users, you likely fall under MSB rules.
02
Register With FinCEN
If you're an MSB, you must register with FinCEN within 180 days of starting operations. This means submitting Form 107 through the BSA e-filing system. Form 107 includes basic company info, ownership details, and your compliance contacts.

02
Register With FinCEN
If you're an MSB, you must register with FinCEN within 180 days of starting operations. This means submitting Form 107 through the BSA e-filing system. Form 107 includes basic company info, ownership details, and your compliance contacts.
03
Prepare for State Licensing
Most MSBs need a money transmitter license in each state where they operate. You'll need documents like a business plan, an AML program, audited financials, and surety bonds.

03
Prepare for State Licensing
Most MSBs need a money transmitter license in each state where they operate. You'll need documents like a business plan, an AML program, audited financials, and surety bonds.
04
Apply Through NMLS
Each state application typically requires financial statements, bonding, background checks, and your compliance documentation. Most states use the Nationwide Multistate Licensing System (NMLS).

04
Apply Through NMLS
Each state application typically requires financial statements, bonding, background checks, and your compliance documentation. Most states use the Nationwide Multistate Licensing System (NMLS).
05
Respond to Regulator Questions
State regulators often request clarifications or additional documents. Staying organized and responsive helps keep the process moving.

05
Respond to Regulator Questions
State regulators often request clarifications or additional documents. Staying organized and responsive helps keep the process moving.
06
Maintain Ongoing Compliance
Once licensed, you’ll need to handle renewals, financial reporting, AML reviews, and other requirements to stay in good standing.

06
Maintain Ongoing Compliance
Once licensed, you’ll need to handle renewals, financial reporting, AML reviews, and other requirements to stay in good standing.
How We Help
How We Help
How We Support Your MSB Registration Process
We guide fintechs through the full lifecycle of becoming a registered MSB. That includes helping you determine whether MSB registration with FinCEN is required, identifying which state money transmitter licenses apply, and preparing all necessary filings. We also help you structure and organize your compliance program. We handle the day-to-day work, track deadlines, and manage licensing projects as needed. Instead of hiring a single compliance officer, our clients get a team with deep experience in money movement, crypto, and complex fintech models.
Resources
Resources
Latest Content
Articles
Articles
FAQ
FAQ
Frequently Asked Questions About MSBs
Frequently Asked Questions About MSBs
Do MSBs need to register with FinCEN?
Do MSBs need to register with FinCEN?
Do MSBs need a license in every state they operate?
Do MSBs need a license in every state they operate?
What is a money transmitter license?
What is a money transmitter license?
What is the difference between FinCEN registration and state licensing?
What is the difference between FinCEN registration and state licensing?
Get Support With Your MSB Registration
Get Support With Your MSB Registration
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By Regulatory Vertical
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Compliance and Operations
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Resources
About InnReg
Who We Serve
By Regulatory Vertical
By Company Type
Compliance and Operations
By Function
By Compliance Role
Licensing and Registrations
By Regulator
By Sector
By Framework
Resources
About InnReg