Money Service Business

P. Carl Mullan
Additional contact information
P. Carl Mullan: PDX Currency Corporation

Chapter 8 in The Digital Currency Challenge: Shaping Online Payment Systems through US Financial Regulations, 2014, pp 56-60 from Palgrave Macmillan

Abstract: Abstract On July 21, 2011, FinCEN issued a final rule clarifying money service business (MSB) definitions. It said that a money services business is a financial institution. Most digital currency businesses are MSBs. Once an entity falls into the category of a financial institution, there are numerous requirements which must be met for that entity to legally operate in the United States. MSB digital currency businesses are subject to anti-money laundering rules under the Bank Secrecy Act. This new rule also required all foreign-located MSBs engaged in US business to follow BSA regulations.

Date: 2014
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-38255-9_9

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137382559

DOI: 10.1057/9781137382559_9

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().