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United Kingdom Country Report
The payments landscape is transforming in the UK, presenting new opportunities and compliance obligations. These include the introduction of new players in the industry, the creation of new and...
Thailand Country Report
The Bank of Thailand has drafted a new Payment Systems Act, which aims to create a single, unified law on payment systems supervision, enhance efficiency in oversight of payment systems and ensure...
Canada Country Report
Canada is seeing increased innovation and competition in its payments market, and many reviews of the industry have been carried out in recent years, with proposed new AML legislation and a new...
Russia Country Report
In 2017 President Vladimir Putin signed a law imposing a ban on money transfers to Ukraine through foreign payment systems as a response to the Ukraine authorities' ban on the operation of Russian...
Italy Country Report
The introduction of new payment instruments, new players and the growth of mobile commerce have affected Italian payments legislation in the last few years. European directives and regulations...
Arkansas: Money Transmission Services
Elizabeth Munoz Perez
On March 24, 2017 the Arkansas state legislature passed Act 620/2017, which introduces amendments to the Uniform Money Services Act. These changes aim to “clarify the surety bond requirements for...
Spain Country Report
The Ministry of Economy, Industry and Competitiveness, through the Treasury, issued a public consultation paper on the transposition of the EU Payment Accounts Directive (PAD) into national law,...
Colombia Country Report
Elizabeth Munoz Perez
Due to its advanced financial and telecommunications infrastructure, Colombia is set to further its potential for mobile payments through a new type of deposit aimed at financial inclusion. The...
Oklahoma: Money Transmission Services
The Senate Appropriations Committee of Oklahoma approved Senate Bill 547 on February 8, 2016 to charge individuals who do not present valid personal identification a fee for international wire...
New York: Money Transmission Services
On January 17, 2017 the Department of Financial Services (DFS) approved the application of Coinbase for a virtual currency and money transmitter license, and after a comprehensive review the DFS...
Pennsylvania: Money Transmission Services
Governor Thomas Wolf signed into law Act 129 of 2016, P.L. 1002, House Bill 850 (P.N. 3932), amending the Act of September 2, 1965 (P.L.490, No.249), on November 3, 2016. The amendments include...
New Mexico: Money Transmission Services
New Mexico is one of only three states without a money transmitter licensing law in force, the others being South Carolina and Montana. In March 2016, New Mexico passed its first money transmitter...
Montana: Money Transmission Services
Montana remains the only state without money transmitter legislation, with no bill currently in the 2017 legislative session addressing money transmission.See all states
Nebraska: Money Transmission Services
The Financial Institutions Division of the Nebraska Department of Banking & Finance regulates money transmitters using the Nationwide Multistate Licensing System. A money transmitter license...
North Carolina: Money Transmission Services
On June 30, 2016 Governor Pat McCrory signed into law House Bill 289, which enacts the North Carolina Money Transmitters Act as requested by the Office of the Commissioner of Banks to regulate...
Idaho: Money Transmission Services
Money transmitters operating or planning to operate in this state have to comply with the Idaho Money Transmitters Act. Applications can be made through the National Multistate Licensing System...
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