Reforming Money Transmission Laws for Digital Asset Businesses: Part I
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Key Points: · Digital asset businesses need a uniform money transmission law with clear and consistent definitions, licensing requirements, and exemptions. · The Lummis-Gillibrand bill gives the states 2 years to enact a uniform money transmission law, however, this proposal may be unconstitutional due to the anti-commandeering doctrine.
Reforming Money Transmission Laws for Digital Asset Businesses: Part I
Reforming Money Transmission Laws for Digital…
Reforming Money Transmission Laws for Digital Asset Businesses: Part I
Key Points: · Digital asset businesses need a uniform money transmission law with clear and consistent definitions, licensing requirements, and exemptions. · The Lummis-Gillibrand bill gives the states 2 years to enact a uniform money transmission law, however, this proposal may be unconstitutional due to the anti-commandeering doctrine.