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License

US MSB financial license

The US MSB (Money Service Business) license is a financial license supervised and issued by FinCEN (Financial Crime Enforcement Bureau, a subsidiary of the US Treasury Department). The main regulatory objects are companies and companies related to money services. Including international remittance, foreign exchange, currency transaction/transfer (including digital currency/virtual currency), ICO issuance, provision of prepayments and issuance of traveler’s checks. FinCEN issued the "Application of FinCEN Regulations to Persons Who Manage, Exchange or Use Virtual Currency" on March 18, 2013. This guide clarifies the requirements for companies and individuals to use virtual currency in MSB registration. MSB is an abbreviation for Money Service Business. It is managed by FinCEN (Financial Crimes Enforcement Agency), a subsidiary of the U.S. Department of the Treasury, and belongs to the registration licensing system. All businesses related to currency services must apply for this license.

Related website:

https://www.fincen.gov/msb-registrant-search

Canadian MSB Financial License

Canadian Fintrac MSB license is a type of financial license supervised and issued by FINTRAC (Canadian Financial Transaction and Reporting Analysis Center). Canadian MSB supervision is a currency transaction and currency exchange service type enterprise, which must apply to the central bank and conduct filing supervision. This type of company must also be subject to the financial transaction and reporting analysis (FINTRAC) directly under the Canadian Ministry of Finance. The activity center is responsible for ensuring national financial security.

Related website:

https://www10.fintrac-canafe.gc.ca/msb-esm/public/msb-search/search-by-name/

SEC license

The mission of the U.S. Securities and Exchange Commission (SEC) is divided into three parts:

Protect investors

Maintain a fair, orderly and efficient market

Promote capital formation

 

Token is the carrier's securities issuance. This Tokne can be used to replace assets such as stocks, bonds, loans, etc. From the name, it is similar to the concept of ICO and IFO, and it is a way of issuing tokens. Tokens have securities attributes and are regulated by securities institutions (such as the US SEC) and relevant securities laws and regulations.

 

If cryptocurrencies like Bitcoin are called "programmable currencies", then security tokens can be called "programmable ownership" versions of tokens, that is, any asset under its ownership can and will be replaced Monetization (including public and private equity, stocks, debt, real estate, commodities, etc.). If you want to proceed, you must first obtain permission from the SEC regulatory agency.

Related website:

https://www.sec.gov/edgar/searchedgar/companysearch.html

NFA license

In 1974, the United States Congress established the Commodity Futures Trading Commission (CFTC). At the same time as the establishment of the CFTC, the legislation also authorized the creation of a registered futures association, giving the industry the opportunity to create a self-regulatory organization. The United States Commodity Futures Trading Commission (CFTC) awarded NFA the official title of "registered futures association" on September 22, 1981. NFA began its regulatory business in 1982. NFA's regulatory responsibilities include: (1) review and supervise that members must meet NFA's financial requirements (2) formulate and enforce rules and standards to protect the interests of customers (3) arbitrate futures-related disputes (4) approve NFA membership .

Related website:

https://www.nfa.futures.org/basicnet/

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