Money services business (MSB)
Plain definition. A money services business is a person doing business as a currency exchanger, check casher or money transmitter, or issuing, selling or redeeming traveler’s checks, money orders or stored value.
Technical definition. The Financial Crimes Enforcement Network (FinCEN) defines a “money services business” as any person doing business, whether or not regularly or as an organized business concern, as a currency dealer or exchanger, check casher, issuer, seller or redeemer of traveler’s checks, money orders or stored value, money transmitter, or the U.S. Postal Service. Every activity except money transmission has a threshold of more than $1,000 per person per day. Money transmission has no threshold. Banks are excluded, as are persons registered with and regulated or examined by the Securities and Exchange Commission or the Commodity Futures Trading Commission. Apart from certain exempt businesses, an MSB must register by filing FinCEN Form 107 within 180 days after it is established, then renew every 24 months by December 31.
On this site
On this site, Money services business (MSB) comes up in Which licences does Ripple hold to run payments, custody and stablecoins, and where?, How is XRP classified and regulated outside the US (EU, UK, Japan, Singapore, Canada)?, How do I check that a crypto platform is registered and legitimate?, Why does the exchange want my ID? and Are crypto ATMs a safe or sensible way to buy XRP?.
Source
Money Services Business (MSB) Registration | FinCEN.gov (fincen.gov), read October 1, 2026.
Pages that cover Money services business (MSB)
- Why does the exchange want my ID?
- Which licences does Ripple hold to run payments, custody and stablecoins, and where?
- Are crypto ATMs a safe or sensible way to buy XRP?
- How is XRP classified and regulated outside the US (EU, UK, Japan, Singapore, Canada)?
- How do I check that a crypto platform is registered and legitimate?