The Georgia Money Transmitter License guide from Faisal Khan LLC covers licensing through the Georgia Department of Banking and Finance (DBF) under O.C.G.A. §§ 7-1-680–7-1-698, filed through NMLS. Georgia adopted the Money Transmission Modernization Act in two separate waves — Act 748 in 2022 and H.B. 55 in 2023 — and the guide's key correction is that any source quoting a flat net worth minimum is out of date.
Tangible net worth is now the greater of $100,000 or a cumulative sliding scale: 3% of the first $100M in total assets, 2% up to $1B, and 0.5% above that. The bond is a fixed $250,000, with DBF able to require additional coverage up to $2,000,000 — a figure the guide notes is frequently confused with the net worth requirement, which it is not. There is no separate crypto license; the DBF instead runs an activity-by-activity analysis of whether virtual currency activity falls inside the existing definition, and H.B. 945 (effective 1 July 2026) adds a dedicated kiosk regime with an 18% fee cap and daily transaction limits.
A separate myth the guide corrects: Georgia does not impose a special $2,000 SAR threshold below a federal $5,000 figure. The $2,000 threshold is the federal MSB standard; $5,000 applies to banks, not Georgia licensees.
What the guide covers:
- The two MTMA legislative waves and what changed under each
- Net worth and bond mechanics, including the $2,000,000 discretionary bond cap
- H.B. 945's virtual currency kiosk rules — fee caps, daily limits, and refund windows
- Exemptions under § 7-1-682, and why there is no de minimis or fintech carve-out
- Quarterly Call Report and UAAR filing requirements, and late-filing penalties
- Examination costs, the 31 December renewal deadline, and Georgia's no-reinstatement policy