A money services business (MSB) is a legal term used by financial regulators to describe businesses that transmit or convert money.
Questions tagged [money-service]
22 questions
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When does it become illegal to exchange bitcoin for cash?
I've read several "stings" and raids for running unlicensed money transfer businesses for people buying and selling bitcoin on localbitcoins. All of the articles are extremely vague and don't explain exactly when it becomes illegal. Is there any…
user5389726598465
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Bitcoin service regulations
Most governments don't consider Bitcoin to be currency, so it's somewhat of a legal gray zone regarding regulation. I know most exchanges must follow KYC/AML systems because they trade with fiat too, but for services which only exchange…
thatguylowjwj
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HOA shredded our Money Order. Is Money Order an Official Record? Are there other Records we can request?
Per our state's rule on HOAs:
(4) OFFICIAL RECORDS.—The association shall maintain each of the following items, when applicable, which constitute the official records of the association:
[...]
(j) The financial and accounting records of the…
LeanMan
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Is it legal to trade bitcoin for cash in Virginia, USA?
I was wondering if trading bitcoin for cash (for example payments on Apple Cash, Venmo or Zelle) is legal in Virginia (USA) or not. I would like to know before I start selling some of my bitcoins.
solid
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What is the legal situation with payments authorised but not collected?
There is a Guardian story about Transport for London (TfL) not collecting authorised payments and then fining the individual for non-payment.
What is the legal situation here? I am not sure what powers TfL have, but this could be a simple…
User65535
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Legal Considerations for Offering Rewards in Exchange for Tenant Selection in Germany
My company and I are located in Germany and we intend to distribute flyers on the street. In the flyers, we offer a reward to those who are willing to rent out their homes in exchange for us being able to select the tenants (for example, offering…
Marco Di Giacomo
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What are the legal requirements of running a giveaway competition where people play for free
What are the legal requirements of running a giveaway competition where people play for free but will win something?
Also is a competition like a singing/ talent competition where there are judges (and people can win something) have the same legal…
YulePale
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What features are used to distingish between investing and running a money transmitting business?
This question about the risk of money laundering prosecution one could face using decentralized cryptocurrency exchanges is answered by "Generally, local laws will define concepts like "money transmitting business" and require individuals engaged in…
Sam
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Do I need to register as a Money Service Business for a cryptocurrency trading platform?
According to the U.S. Department of Treasury FinCen: Money Service Business Definition. The term "money services business" includes;
any person doing business, whether or not on a regular basis or as an
organized business concern, in one or more…
Digital fire
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Does giving an IOU or store credit make one a money services business?
In this apparently excellent answer it is implied/stated that "closed loop gift cards", such as amazon gift cards are "stored value" such that issuers of more than $1,000 per person per day of them would be considered a money services business (MSB)…
User65535
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Is reselling prepaid gift cards for crypto MSB or not?
My question is regarding a business model where a website resells prepaid gift cards for example amazon, prepaid Visa gift, Mastercard, PSN etc.
All cards are non-reloadable some of them are closed loop like amazon and others are open loop like…
user3509046
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Would a user expose themselves to legal jeopardy if they were paid to write a question or an answer for someone else?
Background
After reading through several policies for Stack Exchange, I could not find anything that explicitly forbids or bans a user from writing a question or answer on behalf of someone else in exchange for money. That is, I could not find…
isakbob
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Would a bitcoin "cleaning" service be legal in New Zealand?
I'd like to create a piece of software or service which takes someone's Bitcoin, goes through a process of "cleaning" it (making it untraceable) and then returning it.
Provided the purpose of the application is not for any kind of criminal usage,…
user26532
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Why is Silk Road criminal but not LocalBitcoins?
How are the Localbitcoins.com founders safe from money laundering laws?
LocalBitcoins says its purpose is to connect buyers and sellers. That legalese makes it escape criminal laws.
What about Silk Road? Ross Ulbricht doesn't sell drugs. Someone…
user4234
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Is it legally acceptable to make a videogame adaptation of a gameshow?
Would it be allowed if I adpated the game shows ideas into a virtual based game and still use its original name. It is not a stand alone game its more of a single server however I could to set it up where I could accept donations or someone could…
user12949
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