US MSB License Introduction

The MSB license is a financial license issued by the Financial Crimes Enforcement Bureau (FinCEN), an agency of the U.S. Department of the Treasury. The full name of the license is Money Services Business, which mainly regulates money service related businesses and companies, including digital currency, virtual currency trading, ICO issuance, and foreign exchange, remittance, and other businesses. Companies engaged in these related businesses in the United States must apply for an MSB license in order to operate legally.

There are many benefits to applying for a U.S. MSB license, which is one of the important compliance documents for blockchain projects and exchanges. It is equivalent to a license to operate. Obtaining a U.S. MSB license means that FireCoin can reasonably conduct business in most U.S. states. This is the reason why major exchanges are applying for licenses one after another.

MSB license is a very wide range of licenses, it is a mainstream license, can also be said to be a basic license. Whether you are engaged in blockchain, foreign exchange, futures, payments, finance, etc., you can use the U.S. MSB license.

Companies engaged in money services related business in the United States must apply for an MSB license in order to operate legally. Therefore, there are many companies with this license, and this license can be considered a basic threshold.

The role of MSB license:
 1、Can legally start coin trading business
 2. Increase the reputation of the exchange and give investors more confidence.
 3. To prove that the exchange is operating legally and in compliance

What is the gold content of MSB?

MSB has been advertised as a “high class” license qualification, we analyze its gold content in terms of application difficulty and regulatory strength.
 In terms of application difficulty, MSB license is a license that can be obtained by paying money (the application threshold is relatively low).
 Because MSB is a registered license, it is only a necessary but not sufficient condition to conduct digital asset trading business in compliance with the U.S. territory, and it is a license that must be applied for by all companies engaged in money services related business.
 As mentioned above, MSB is a very basic threshold, so the application is relatively simple, according to official data, the number of MSB licenses has already exceeded 60,000.

The most important thing that makes the MSB license mainstream is that it is the least expensive, shortest, and simplest of all license types to process.

In terms of regulatory efforts, the MSB’s requirements are also less stringent. The MSB’s main scope of regulation is to observe whether it is in compliance with anti-money laundering and terrorist financing, and does not regulate foreign exchange margin transactions, nor does it focus on protecting the interests of consumers.

U.S. MSB license application requirements: Own a U.S. company
 Fee: $12,800
 Required Documents: Certificate of Incorporation + Directors’ Documents (Passport)
 Processing time: about 1 month