MSB (Money Services Business)
MSB
A US FinCEN registration category required for stablecoin issuers, exchanges, and remittance operators.
MSB registration is federal; in addition, most US states require their own money-transmitter licences. Stablecoin issuers typically maintain MSB + state MTL coverage in all states they serve, plus NYDFS BitLicense or Trust Charter for NY.
Related terms
- FinCENA bureau of the US Treasury enforcing AML / BSA obligations on financial institutions including most stablecoin issuers.
- BitLicenseA virtual-currency business licence issued by the New York Department of Financial Services since 2015.
- Money transmitterA US-state-level licence required for businesses moving customer funds — most stablecoin issuers and exchanges hold MTLs in 40+ states.