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Faisal Khan LLC Banking Payments Cryptocurrency Fintech Blockchain Compliance

What is the largest opportunity in Nigeria right now for money transfer?

tl;dr: Buy foreign exchange from within Nigeria by paying for it in Naira and have access to the US Dollars / Euros / other currencies outside of Nigeria to be traded/transferred as and when one desires.  Nigeria is a new import economy, so that means the demand for foreign exchange to be spent outside of …

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Faisal Khan LLC Banking Payments Cryptocurrency Fintech Blockchain Compliance

Can a money transfer agent location be opened in a consulate or an embassy?

The answer is no. When we look at making a consulate or an embassy, as a money-transfer agent location, you have to understand that the consulate or the embassy itself is not US Territory (assuming this question was being asked of the US) in fact this can be applied to any other licensed jurisdiction. With …

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Faisal Khan LLC Banking Payments Cryptocurrency Fintech Blockchain Compliance

Montana does not require a money transmitter license, if I register a company there, am I exempt from money transmitter licenses?

You may be exempt from money transmitter licenses only in the state of Montana. Because you have an exemption in the state of Montana, does not mean that you can offer your financial services nationwide. The exemption is only valid for the state of Montana and Montana alone. This means that the transaction must originate …

Montana does not require a money transmitter license, if I register a company there, am I exempt from money transmitter licenses? Read More »

Remittances Are Expected To Fall By 20%. What Does This Mean For The Economy?

With a worldwide recession, i.e. economic slump, remittances from sending countries are expected to reduce anywhere from 11% to as high as 26%. Such a downturn in remittances also results in a large exodus of blue-collar workers who are leaving and going back home. Each worker = one family roughly. How will this affect the …

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EMI Post Brexit – Where To Apply?

So you were thinking of applying for an EMI in UK or perhaps have an EMI license out of UK. With Brexit now a reality – what are your options? Where to apply? Justina Milašauskienė Senior Associate t. +370 5250 0800 Law Firm COBALT website: cobalt.legal Email: justina /dot/ milasauskiene /at/ cobalt /dot/ legal

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