This page is NOT optimized for viewing on a mobile device.
This page comprises three tables:
- (1.0) State Fee for New Money Transmitter License Applications
- (2.0) Our Professional Fee for Money Transmitter License Application Preparation & Filing
- (2.1) Application Preparation & Filing Fee Only
- (2.2) List of Ancillary Services
(1.0) State Fee for New Money Transmitter License Applications
Please click here for a larger version of this table.
The table below has various columns; please scroll horizontally to view them.
(2.0) Our Professional Fee for Money Transmitter License Application Preparation & Filing
Note: It is important to note that if you choose to apply for multiple states, certain items will only need to be paid once. For instance, you will only need to pay for FinCEN registration and the compliance manual or flow of funds once, regardless of the number of states you decide to apply for. If you have any questions or find any of the information confusing, please do not hesitate to contact us for an explanation. We are always here to help you better understand the process and the associated fees.
Please Note: For the BSA/AML/OFAC Compliance Program, please note the four options:
- Program A: BSA/AML/OFAC Compliance Program & Risk Assessment (US Only Transactions – Non-Crypto, Fiat Only)
- Program B: BSA/AML/OFAC Compliance Program & Risk Assessment (US & International Transactions – Non-Crypto, Fiat Only)
- Program C: BSA/AML/OFAC Compliance Program & Risk Assessment (US Only Transactions – Crypto &/or Fiat)
- Program D: BSA/AML/OFAC Compliance Program & Risk Assessment (US & International Transactions – Crypto &/or Fiat)
(2.1) Application Preparation & Filing Fee Only
| 1. Alabama | 2. Alaska | 3. Arizona | 4. Arkansas |
| $12,000 | $12,000 | $14,000 | $12,000 |
| 5. California | 6. Colorado | 7. Connecticut | 8. Delaware |
| $45,000 | $14,000 | $12,000 | $12,000 |
| 9. District of Columbia | 10. Florida | 11. Georgia | 12. Hawaii |
| $14,000 | $14,000 | $14,000 | $14,000 |
| 13. Idaho | 14. Illinois | 15. Indiana | 16. Iowa |
| $12,000 | $14,000 | $14,000 | $12,000 |
| 17. Kansas | 18. Kentucky | 19. Louisiana | 20. Maine |
| $12,000 | $14,000 | $12,000 | $12,000 |
| 21. Maryland | 22. Massachusetts | 23. Michigan | 24. Minnesota |
| $14,000 | $14,000 | $14,000 | $14,000 |
| 25. Mississippi | 26. Missouri | 27. Montana | 28. Nebraska |
| $14,000 | $12,000 | N/A | $12,000 |
| 29. Nevada | 30. New Hampshire | 31. New Jersey | 32. New Mexico |
| $14,000 | $12,000 | $14,000 | $12,000 |
| 33. New York (MTL) | 34. New York (VC: BitLicense) | 35. North Carolina | 36. North Dakota |
| $50,000 | $85,000 | $14,000 | $12,000 |
| 37. Ohio | 38. Oklahoma | 39. Oregon | 40. Pennsylvania |
| $18,000 | $12,000 | $12,000 | $14,000 |
| 41. Rhode Island | 42. South Carolina | 43. South Dakota | 44. Tennessee |
| $12,000 | $12,000 | $12,000 | $14,000 |
| 45. Texas | 46. Utah | 47. Vermont | 48. Virginia |
| $35,000 | $12,000 | $12,000 | $14,000 |
| 49. Washington | 50. West Virginia | 51. Wisconsin | 52. Wyoming |
| $14,000 | $12,000 | $12,000 | $12,000 |
(2.2) List of Ancillary Services
| US State | US State in consideration |
| (1). Setup Fee | US$ 3,500 (one-time) |
| (2). State License Application/Preparation Fee | See Table Above |
| (3). Extra-Work: International Applicants Fee | US$ 25,000 |
| (4). Surety Bond Assistance | US$ 4,500 |
| (5). Fingerprinting for Foreign Nationals | US$ 3,800 |
| (6A). BSA/AML/OFAC Compliance | US$ 18,000 |
| (6B). BSA/AML/OFAC Compliance | US$ 30,000 |
| (6C). BSA/AML/OFAC Compliance | US$ 38,000 |
| (6D). BSA/AML/OFAC Compliance | US$ 45,000 |
| (7). Business Plan Authoring | US$ 45,000 |
| (8). Risk Assessment Manual | US$ 30,000 |
| (9). Internal Operation Manual | US$ 25,000 |
| (10). FinCEN Registration | US$ 5,000 |
| (11). Independent Compliance Review | US$ 18,000 |
| (12). Flow of Funds (FOF) | US$ 5,500 |
| (13). Transaction Set (TS) | US$ 3,500 |
| (14). Custody of Funds (COF) | US$ 3,500 |
| (15). Compliance Manual Update | US$ 750 (per Quarter for Updates) |
| (16). MSB Banking | US$ 7,500 |
Also See:
- US Money Transmitter License (MTL) – Main Page
- Summary Table: US Money Transmitter License
- US Cryptocurrency Regulation: Cryptocurrency Laws by State
—
This page was last updated on May 31, 2023.
–