Introduction to the MSB Exchange license in the United States

A U.S. MSB (Money Services Business) license is a financial license overseen and issued by FinCEN (Financial Crimes Enforcement Network, a division of the U.S. Department of the Treasury) for the supervision of businesses and companies related to money services, including cross-border remittances, foreign exchange, currency transactions/transfers (including digital/virtual currencies), ICO offerings, and other services. Offer prepaid items, issue traveler's checks, etc. Companies engaged in the above related business in the United States must apply for an MSB license in order to legally conduct business.

Under FinCEN regulations and under the USA Patriot Act, MSBS are required to register with FinCEN and comply with a number of different record-keeping, reporting, and anti-money laundering requirements. Under the Bank Secrecy Act (BSA), an MSB is required to register with FinCEN when setting up a financial services business. Registration is more than simply naming a company or paying a simple fee.

It involves providing FinCEN with a lot of very important information about the MSB, such as the type of business it does, the financial institutions and bank accounts that may transact through it, the ownership or control of the MSB, and the number of different branches and/or agents operating in the United States. Extra care should be taken throughout the registration process to ensure that all deadlines are met and that all information provided to FinCEN is accurate and does not need to be corrected later.

The US MSB is a necessary but not sufficient condition for the compliance of digital asset trading business.

The business scope of the MSB exchange license in the United States

The main regulatory objects are businesses and companies related to money services, including digital currency trading, currency trading, fiat currency trading, and foreign exchange.

The MSB is administered by FinCEN (Financial Crimes Enforcement Bureau, an agency of the United States Department of the Treasury) and is a registered license system. Any business dealing with money services must apply for this license. After getting this license from Huobi, it has a great reputation and a high cost performance, and platforms such as Huobi, Binance, and ok Exchange all hold this license to operate.

Choose the US company to apply for the license, the US company we register free of charge, need to provide the US company name our approved name (all caps LTD LIMITED CORP and other endings can be, no special restrictions on the name), director information ID card, passport photo or scanned copy.

Islands companies to apply for the need to provide director information, ID card passport HD scan or photo, company registration certificate, articles of association, agent certification letter electronic file or scan

The application time for MSB license in the United States is about 10 working days, which can be checked on the official website of the United States Department of Treasury MSB.

Advantages of the US MSB Exchange license

1. Investor recognition - Corporate laws and financial regulation in the United States are very perfect, and having a U.S. license will make your digital currency trading platform more recognized by global investors.

2. Obtain authoritative approval - With the authoritative approval of the U.S. Treasury Department, you can conduct relevant business in the United States and globally, which represents the compliance regulation of digital currency platforms.

3. Become a first-line platform - MSB license is also a standard license for global digital currency trading institutions. Coinbase,Bitfinex, Huobi,ok, Binance, Matcha Exchange and other platforms operate under this license.

4. Diversified services - The MSB license allows currency exchange and delivery services, so that you can better meet customer needs and provide more diversified services.      

With more than 10 years of experience, we work closely with local authorities, law firms and other legal entities to ensure that your company meets regulatory requirements and can obtain official licenses. Whether your goal is to become a market maker, retail financial advisor, interactive broker, or broker, we have a solution for you. Focus on the United States, Canada, Singapore, Hong Kong, Cayman, Belize, Seychelles, Malaysia, Belize and many other countries, welcome to consult.