4 Predictions for the Money Transmitter Legislation in 2016

For money transmitters, 2016 is shaping up to be a year of rapid changes in the financial industry, much like 2015 was. Innovative new ways to exchange funds are emerging with the rise of things like virtual currency and crowdfunding, and that trend shows no sign of slowing down. But with these unorthodox new businesses comes more scrutiny from the government. A few states have already seen new legislations pertaining to money transmitters, and there are surely more to come. Let’s have a look at the 4 Predictions for the Money Transmitter Legislation in 2016.

1. Clearer Rules on Virtual Currency

For the last few years, bitcoin and other virtual currencies have been in a bit of a legislative gray area and authorities have been scrambling to catch up. A few states, including New Hampshire and New York, have passed the legislation to designate sellers and administra ...

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