MSB Registration: Crypto Compliance & FinCEN Rules
When dealing with MSB registration, the formal process of registering a Money Service Business with U.S. authorities to operate legally in the financial space. Also known as Money Service Business licensing, it signals that a company meets anti‑money‑laundering (AML) standards, can handle fiat‑crypto conversions, and is ready for regulator scrutiny.
At the core of this process is the Money Service Business, a category that includes crypto exchanges, remittance providers, and digital wallets that move money for customers. In the United States, the FinCEN, the Financial Crimes Enforcement Network, serves as the primary overseer. FinCEN requires every MSB to file a registration form (FinCEN Form 107), maintain a robust AML program, and file periodic suspicious activity reports. Without this registration, a crypto platform cannot legally accept U.S. customers or process transactions that touch the banking system.
Crypto compliance doesn’t stop at registration. The Travel Rule, an international standard that forces firms to share sender and receiver information on transactions over $1,000 is a direct off‑shoot of MSB obligations. When a crypto exchange is an MSB, it must integrate Travel Rule solutions, verify user identities, and transmit that data to counterparties. This intertwines AML policies, Know‑Your‑Customer (KYC) checks, and real‑time monitoring tools. Ignoring any piece can trigger hefty fines, like the Egypt crypto penalties or Brazil's licensing mandates, both of which illustrate how global regulators echo FinCEN’s expectations.
What’s Next?
Below you’ll find a curated set of articles that break down real‑world applications of MSB registration: from Brazil’s virtual assets law and Egypt’s crypto fines to the EU’s zero‑threshold Travel Rule guidance. Each piece shows how compliance shapes market entry, risk management, and investor confidence. Dive in to see practical steps, jurisdiction‑specific tips, and the latest regulatory updates that will help you keep your crypto business on the right side of the law.
Ready to explore the full collection? Start with the detailed guides and stay ahead of the regulatory curve.
FinCEN Crypto Exchange Registration: Requirements, Steps & Compliance
A practical guide covering who must register with FinCEN, step‑by‑step registration, ongoing AML duties, state licensing, recent rule changes, costs, and common pitfalls for crypto exchanges.