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Bureau Adopts Revised Money Transmitter Rule
March 13, 2025
Effective March 8, 2025, the Bureau has adopted Rule 709 (rev), Establishment of License and Renewal Fees and Application Requirements for Money Transmitters and Virtual Currency Business Activity and Requirement for Licensing Through the Nationwide Multistate Licensing System (NMLS). This rule is necessitated by the legislative adoption of the Money Transmission Modernization Act. It is expected to guide applicants for initial and renewal licenses on the NMLS. A copy of the revised rule is attached. Additional copies are available online.