ComplyFit

ComplyFit is a first-of-its-kind, #RegTech platform providing money transmitter license (MTL) management across all 50 states & territories.

[BitAML @BitAML]

When the @SECGov's X account got hacked, causing turmoil in #Bitcoinmarkets w/ a fake post on the anticipated #ETF approval, it raised alarms about account security. Explore the incident's lessons w/Erin O'Loughlin of @acfcsonline & Joe Ciccolo @AML_Report
https://t.co/P1ChySFTMT

[ComplyFit @ComplyFit]

FL S0662: regulates #virtualcurrencykioskbusinesses, proposing amendments to statutes. The OFR oversees registration, licensing, and operations. The act outlines rules for registration, renewal, reporting changes, and penalties for non-compliance: https://t.co/9pu25e7kwA

[ComplyFit @ComplyFit]

Missouri SB1050: "Creates new provisions relating to #digitalmining.": https://t.co/ARf9jcLVsR

New Hampshire HB1444: "This bill adds limits to the regulatory powers of political subdivisions over #digitalassetmining businesses.": https://t.co/801xQhwCK5

[ComplyFit @ComplyFit]

#Florida H0977: "An act relating to #virtualcurrencykiosk businesses."
Read More: https://t.co/VJ5v4VzEAJ

#New Jersey A5747: "Classifies all #virtualcurrencies issued and sold to institutional investors as #securities."
Read More: https://t.co/C488QoakFx

[ComplyFit @ComplyFit]

CA AB 1116 regulates #moneytransmission by the Commissioner of Financial Protection & Innovation. It introduces changes like electronic reporting, updates financial requirements, & imposes obligations. Transitional provisions are in place until 1/1/25.

[ComplyFit @ComplyFit]

#Connecticut HB06752 empowers the Banking Commissioner to regulate #digitalasset business, defines terms, and sets requirements for #virtualcurrency kiosk operators. Effective 10/1/23. More info: https://t.co/4LAtzDrtl1

#cryptoatm #cryptobusinessowner

[ComplyFit @ComplyFit]

#SouthDakota regulators recommend adding the license item to accounts before renewal, ensuring companies update their records and policies by 11/1/23: https://t.co/Ijxsed0vy6

#informationSecurity #InformationSecurityPolicy

[ComplyFit @ComplyFit]

SB 401, Limón, regulates digital financial asset transaction kiosks under the DFPI. #cryptoatms https://t.co/pwJ3U98UPP

AB 39, Grayson, introduces the Digital Financial Assets Law, regulating #digitalasset businesses: https://t.co/a6QeZdhpd0

#californiacrypto #CryptoLegislation

[ComplyFit @ComplyFit]

The 2024 NMLS Annual Renewal period starts Nov. 1 and will continue through Dec. 31. Keep major holidays in mind for planning purposes.

Read More: https://t.co/no7cwhtp4b

#ComplyFit #MoneyTransmitter #MoneyTransmitterLicense #MSB #MoneyServiceBusiness #NMLS #LicenseRenewal

[ComplyFit @ComplyFit]

#USHR5745: "To provide for the regulation of #digitalassets, and for other purposes." - Read Bill: https://t.co/LcFYxoF9Np

#USBill #USHouseBill #DigitalAsset #DigitalAssetRegulation

[ComplyFit @ComplyFit]

“August 28, the @CaliforniaDFPI successfully launched its new cloud-based Self-Service Complaint Portal, marking a significant upgrade from the legacy online form.”

Link: https://t.co/pGlR60wVYo

#DFPI #consumerprotection

[ComplyFit @ComplyFit]

#Cryptocurrencies reshape finance, posing regulatory challenges and opportunities. A robust licensing framework is essential. Explore this complex world. Read more: https://t.co/7GE7m13gjr

#cryptolicense #virtualcurrencylicense

[ComplyFit @ComplyFit]

A quick reference doc that focuses on the adoption of #MoneyTransmissionModernizationAct across states. Comprehensive overview of legislative landscape related to #moneytransmission regulation.

https://t.co/n0Azuf3xru

#CSBS

[ComplyFit @ComplyFit]

#CaliforniaSB95: Revisions to #UniformCommercialCode for electronic money & assets, defines #virtualcurrency, clarifies exclusions, defines controllable accounts/payment intangibles, outlines control procedures for digital assets.

Effective 1/1/24

More: https://t.co/wfTQA0BBG0

[ComplyFit @ComplyFit]

Since 2023, 12 states (AR, GA, HI, IN, IA, MN, NV, NH, ND, SD, TN, TX) passed laws influenced by #CSBS Model #MoneyTransmission Modernization Act.

#moneytransmitter #modellaw

[BitAML @BitAML]

#Consumerprotection is vital in the #crypto space. @CaliforniaDFPI's new complaint platform is a step toward scam prevention. Crypto companies must prioritize consumer protection to earn trust and avoid regulatory issues.
https://t.co/DeAOc1ARC3

[ComplyFit @ComplyFit]

US HR4766 aims to regulate payment #stablecoins, making it illegal for anyone except approved licensed issuers to create them for use within the US. Payment stablecoins are digital assets for payment with fixed-value redemption and stable value assurance: https://t.co/2db1vFUZo0

[ComplyFit @ComplyFit]

📢 #CryptoKioskBill Update - SB401:

Effective date: Jan 1, 2025 (not 2024)
Minimum fee upped to 15%
No mandatory crypto-to-fiat exchange
Next: Floor vote, then Governor Newsom's desk. Details here 👉 https://t.co/bUN0syQTIh

[ComplyFit @ComplyFit]

US S2669 - "A bill to require the @NUSA_FINCEN to issue guidance on #digitalassets, and for other purposes." Effective Immediately. Read more: https://t.co/trjDJ6shLa

#regulatoryguidance

[ComplyFit @ComplyFit]

To operate a #moneytransmissionbusiness legally, you need a #moneytransmitterlicense, which varies in cost depending on location, license type, and fees.

Read more from @InvestorTimesEN: https://t.co/1OomEF3lhC