#money-transmitter News & Analysis

4 articles tagged with #money-transmitter. AI-curated summaries with sentiment analysis and key takeaways from 50+ sources.

4 articles

CryptoBearishBitcoin Magazine · Jun 247/10

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Law Enforcement, Catholic Groups Send Letters to U.S. Government Warning CLARITY Act Would Create Crypto Crime Loopholes

Law enforcement agencies and Catholic organizations have submitted letters to the U.S. government opposing the CLARITY Act, specifically Section 604, arguing that it would exempt certain cryptocurrency developers and infrastructure providers from money transmitter regulations. This exemption could create significant anti-money laundering (AML) compliance gaps and regulatory loopholes that bad actors might exploit.

$BTC

CryptoBearishBlockonomi · Jun 27/10

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The National Trust Loophole – How Crypto Giants are Bypassing US State Regulators

Cryptocurrency companies are reportedly exploiting a regulatory loophole by using national trust company charters to bypass fragmented state-level licensing requirements. This strategy allows crypto firms to operate nationwide while avoiding the expensive and time-consuming process of obtaining individual state money transmitter licenses, potentially undermining state regulatory oversight.

CryptoBearishDecrypt – AI · Mar 267/10

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Crypto Case Over Money Transmitter Laws Dismissed by US Judge

A US judge dismissed a crypto case involving money transmitter laws, leaving unresolved the critical question of whether developers of non-custodial cryptocurrency tools must comply with federal money-transmission regulations. This dismissal means the regulatory uncertainty around non-custodial crypto development continues.

CryptoBearishCoinTelegraph · Mar 266/10

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Court rejects dev's bid to shield software from money transmitter laws

A Texas court dismissed a case brought by Pharos developer Michael Lewellen seeking to shield software developers from money transmitter laws. The dismissal was without prejudice, and Lewellen's legal team is exploring options to move forward with the case.