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Alchemy Pay expands US compliance with four new state licenses

Alchemy Pay’s new MTL licenses in Minnesota, Oklahoma, Oregon and Wyoming bring its total to eight US state licenses.

Cryptocurrency payment gateway Alchemy Pay is growing compliance in the United States by obtaining new licenses in four US states.

Alchemy Pay has secured four new US money transmitter licenses (MTLs) in Minnesota, Oklahoma, Oregon and Wyoming, the firm announced to Cointelegraph on Nov. 8.

The new licenses bring Alchemy Pay’s total to eight US state licenses, according to data from the Nationwide Multi-State Licensing System and Registry.

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Hawaii crypto firms no longer need MT license, regulator rules

While being exempt from the Money Transmitter License requirement, crypto firms in Hawaii will still have to comply with any federal licensing laws.

Cryptocurrency firms in Hawaii are now officially exempt from the requirement to receive a Money Transmitter License (MTL) to run business in the state.

The Hawai‘i Department of Commerce and Consumer Affairs (DCCA) informed the public that the state concluded the collaborative crypto research project Digital Currency Innovation Lab (DCIL) on June 30, 2024.

Initiated in 2020, DCIL aimed to explore the landscape of digital currency activity within the state as well as assess the regulatory framework required for crypto-related companies.

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North Dakota latest US state to revoke Binance.US license

North Dakota’s Department of Financial Institutions Commissioner pointed to Binance’s money transmitter and AML convictions to make its case.

North Dakota’s financial regulator has revoked a money transmitter license for Binance’s United States arm, Binance.US — making it the seventh state to do so.

North Dakota Department of Financial Institutions (DFI) Commissioner Lise Kruse said on June 17 that BAM Trading Services — conducting business as Binance.US — failed to comply with the state’s money transmitter laws.

A revocation order notes Binance and founder Changpeng Zhao’s November federal conviction for conspiracy to conduct an unlicensed money-transmitting business and a failure to maintain an effective anti-money laundering program as reasons to pull the license.

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US Man Selling Bitcoin Without License Faces 5 Years in Prison

US Man Selling Bitcoin Without License Faces 5 Years in PrisonA New Orleans resident has been charged for selling bitcoin without registering with the Financial Crimes Enforcement Network (FinCEN). If convicted, the seller may receive a maximum of five years in prison, a maximum $250,000 fine, up to three years of supervised release, and a $100 mandatory special assessment. Bitcoin Seller Faces Jail Time The […]

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum