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US State Bank Regulators - Rules for Fintech, Crypto Firm Licensing

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  • US State Bank Regulators - Rules for Fintech, Crypto Firm Licensing

    US State Bank Regulators Agree to Single Set of Rules for Fintech, Crypto Firm Licensing

    Bank regulators in 49 U.S. states, Washington, D.C. and Puerto Rico plan to make compliance for cryptocurrency companies simpler by consolidating supervisory exams.
    • The Conference of State Bank Supervisors (CSBS), a coordinating body for state regulators, confirmed to Reuters the new regime for money service businesses (MSB) will introduce the same rules and standards across 48 states.
    • This will streamline compliance, making it easy for state-licensed money transmitters like Coinbase to work across multiple states, instead of going through the time and expense of getting regulated in each and every one.
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