Regulatory Guide to Money Transmission & Payment Laws in the U.S (2nd Edition)

Complimentary book offers a comprehensive legal and regulatory overview of the rapidly growing U.S. payments, money transmission, and money service business space.

“Regulatory Guide to Money Transmission and Payment Laws in the U.S.” is now available as a downloadable book from Shipkevich PLLC.

Our attorneys have prepared this concise and comprehensive Guide to bring together our legal and regulatory knowledge on the payments and money transmission space, providing a cohesive picture for those inquiring about the space.

The payments and money transmission space are large, growing, and increasingly fintech-based. As an exponentially increasing space, veterans in the space and those considering entering the space should look to our Guide to keep abreast of the various state and federal regulations and potential changes to come to the industry.

This Regulatory Guide summarizes the payments space’s history and the federal and state statutes to consider as a money service business. The Guide’s section of every state’s money transmitter statute and important definitions within the statutes is one of its most valuable features. Closed and open-loop payments and payment processors are also covered in the Regulatory Guide.

Within the Guide you will find information on:

  • Money service businesses
  • Bank Secrecy Act (BSA)
    • Patriot Act (AML/KYC requirements)
  • Uniform Money Services Act (UMSA)
  • Prepaid access
  • Payment processors
  • CFPB prepaid card rule
  • Vision 2020 program
  • What it takes to register as a money transmitter
  • 50 state survey on money transmission laws

Second Edition Includes Updates On:

  • FinCEN’s guidance in the cryptocurrency space
  • U.S. money transmission laws as they relate to cryptocurrency
  • Analysis of the different state approaches to money transmission laws 
  • Discussion on whether cryptocurrency businesses have to get a money transmitter license
  • Convertible virtual currency wallets
    • Hosted Wallets
    • Unhosted Wallets
  • Closed-loop vs. open-loop payment systems 
  • Recent legal and regulatory updates in the money transmission space


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