In the legal code of the United States, a money transmitter or money transfer service is a business entity that provides money transfer services or payment instruments.[1] Money transmitters in the US are part of a larger group of entities called money service businesses, or MSBs.[2] Under federal law, 18 USC § 1960, businesses are required to register for a money transmitter license where their activity falls within the state definition of a money transmitter.[3]
- ^ "Illinois Compiled Statutes -FINANCIAL REGULATION Transmitters of Money Act". January 1, 1995.
- ^ "FinCEN - Am I an MSB". Retrieved June 3, 2013.
- ^ "18 UCS § 1960". Retrieved May 20, 2014.