The Nebraska Money Transmitter License guide from Faisal Khan LLC covers licensing through the Nebraska Department of Banking and Finance (NDBF) under §§ 8-2701–8-2754, rewritten for the LB 474 overhaul that took effect 1 October 2025 and the LB 838 changes landing in July 2026. Nebraska's defining feature is that crypto sits outside the money transmitter statute rather than inside it — the Act never mentions virtual currency, and the NDBF has published no guidance on whether crypto transmission triggers licensure.
The most consequential update is LB 838, signed 14 April 2026. From 1 July 2026 it imposes a 25% excise tax on cash-funded remittance transfers to residents of "foreign adversary countries" (Cuba and Venezuela carved out), owed by the provider if not collected from the sender. From 18 July 2026, applicants must certify no key individual is a "foreign adversary person," with failure triggering a mandatory presumption against licensure — applied retroactively to existing licensees. The guide also corrects a widely repeated error: there is no 10% fee on international transfers, since the bill that would have created one never became law.
LB 474 doubled net worth to the greater of $100,000 or a sliding scale, and replaced location-based bond scaling with the greater of $100,000 or three months' average daily liability, capped at $500,000.
What the guide covers:
- Fee, bond, and net worth changes under LB 474, effective 1 October 2025
- The LB 838 excise tax and foreign-adversary licensing restrictions, with retroactive application
- The Nebraska Financial Innovation Act's Digital Asset Depository Charter and Telcoin's 2025 approval
- Crypto ATM regulation under LB 609, including daily limits and an 18% fee cap
- The 120-day decision deadline with no deemed-approval consequence if it lapses
- Exemptions, examination costs, and the hard 31 December renewal deadline