Pennsylvania Clarifies That Crypto Exchanges Are Not Money Transmitters

2019-1-23 13:15

Pennsylvania's government has clarified that crypto exchanges and providers do not require a money transmission license to operate.

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Bitcoin Exchanges Don’t Need Money Transmitter Licenses in Pennsylvania

The Pennsylvania Department of Banking and Securities (DoBS) says cryptocurrency exchanges in the state do not require Money Transmission Business Licenses. MTA Not Applicable to Bitcoin in Pennsylvania In a memo titled “Money Transmitter Act Guidance for Virtual Currency Businesses,” the Pennsylvania DoBS clarified that the Money Transmitter Act (MTA) did not apply to cryptocurrency exchanges.

2019-1-23 14:00