How we can help you successfully complete your registration:
Your external compliance team: We are responsible for submitting your registration application to FinCEN, ensuring compliance with U.S. Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations, and providing you with solid application support.
Full Support: We offer a full range of services for your MSB registration, including legal advice, document preparation, AML/KYC policy development, audit arrangements and ongoing compliance support.
Professional and efficient: We provide efficient processes and reduce delays. If needed, we can also assist in opening a compliant U.S. bank account or in acquiring an existing MSB entity.
Ready to register your US MSB? Contact us today to get started!
MSB can carry out business activities
The MSB covers a wide range of financial services and each activity is regulated to ensure compliance with the Bank Secrecy Act. The following are the main activities allowed by the MSB:
Currency dealers or changers: the buying and selling of foreign currencies and virtual currencies, providing exchange services for individuals or businesses.
Cheque Cashing: Provides a cheque cash conversion service that allows customers to access funds without a bank account.
Issuers of traveller's cheques, money orders or stored value cards: Issue financial instruments such as traveller's cheques, money orders and prepaid or stored value cards to provide secure and diverse payment options for personal and commercial use.
Sale or redemption of traveller's cheques, money orders or stored value cards: Sale or redemption of traveller's cheques, money orders or stored value cards to support flexible financial transactions for a variety of purposes.
Transfer of funds: Facilitate the electronic transfer of funds, including domestic and international remittances by individuals and businesses.
Who regulates MSBs in the United States?
The Financial Crimes Enforcement Network (FinCEN) oversees MSB registrations and ensures compliance with the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations.
Why choose to register MSB in the United States?
Low cost: MSB registration is regulated by the Financial Crimes Enforcement Network (FinCEN), with low application fees and no security deposit or monthly maintenance fees.
The process is simple: the process is simple and can be completed within one month.
Enhance customer trust: The strict legal and regulatory framework in the United States can enhance the credibility of the platform and gain acceptance from global investors.
Increase market awareness: MSB is a standard registration for digital currency exchanges. Platforms such as Coinbase, Bitfinex, Poloniex and Huobi have registered MSB to expand their business.
Company Registration: You need to set up a US company (you can also use a foreign company) to apply for MSB registration.
Office Address and Agent: Registered U.S. companies need to provide U.S. office address and local registered agent services. We provide registered office address and agency services to ensure that all official mail is forwarded to you by email or post.
EIN (Employer Identification Number): You need to submit an EIN application, which contains the personal information of directors and shareholders, basic company information and articles of association.
Bank Account: A commercial bank account is required to support the MSB business. We can help you open a company account and make the process smoother.
AML/KYC Compliance: AML and KYC policies that comply with US federal requirements are required.
Business Plan: Submit a business plan outlining your services and MSB activities in the United States.
Update: MSBs are required to renew their registration every two years after their initial registration to remain compliant.
Step 1: Evaluate
It is expected that in 1-2 days we will evaluate your business plan and guide you to understand the required requirements, costs and timing.
Step 2: Document preparation
It is expected to take 1-2 days for us to collect the required documents and draft the AML policy to comply with US regulations.
Step 3: Compliance Audit
One week is expected to ensure your team meets FinCEN's compliance standards.
Step 4: Company Registration
One week is expected to assist you in setting up a US entity and providing a registered office address.
Step 5: Submit and Approve
For approximately 2 weeks, we are responsible for submitting the application and communicating with FinCEN until it is approved.
Costs: Expenses related to company formation, AML/KYC and professional services. Please contact us for a detailed fee list.
Time: Depending on the complexity of your business and the speed of file submission, the entire process usually takes about 4-6 weeks. Our team will expedite the process and minimize delays.
US MSB Registration FAQ
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1. Does my team need to be in the United States to register MSB?
No, you can register as an MSB through the establishment of a US company or through a foreign company. However, we recommend that you set up a US company because it is more regulatory compliant and will simplify your operations. -
2. What types of business are covered by MSB?
MSB covers a wide range of financial services, including foreign exchange, international money transfers, currency and cryptocurrency transactions, payment processing, traveller's cheque issuance, money transfers and prepaid access or stored value services. -
How long does it take to register as an MSB in the United States?
It usually takes about 4 weeks, depending on the complexity of your business and the speed of file submission. We simplify the process to ensure the fastest possible turnaround time. -
4. Who regulates MSBs in the United States?
The Financial Crimes Enforcement Network (FinCEN) oversees MSB registration and ensures compliance with the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) regulations. -
5. Are there ongoing compliance requirements?
Yes, MSBs must remain AML/KYC compliant, file regular reports with FinCEN, and be prepared to be audited. We provide ongoing support for all compliance obligations. -
Do you assist in opening a bank account?
Yes, we provide assistance in opening a commercial bank account, which is necessary for the operation of the MSB. -
7. How often does the MSB need to renew the registration?
MSBs are required to renew their registration with FinCEN every two years after initial registration to ensure continued compliance. -
8. When do I need to register an MSB?
MSBs are required to file a Form FinCEN 107 within 180 days of commencing operations. Our team ensures that your submission is seamless and timely, always in compliance. -
9. Can you handle the entire application process?
Of course you can! From company formation to submission and compliance, we manage the entire registration process for you.
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