Crypto Exchange Not Considered as Money Transmitter in Pennsylvania

Crypto Exchange Not Considered as Money Transmitter in Pennsylvania

Pennsylvania’s Department of Banking and Securities (DoBS) have made it clear that the cryptocurrency exchange is not money transmitters. In both the one-way and two-way Kiosk systems, there is no transfer of money to any third party. The user of the Kiosk merely exchanges fiat currency for virtual currency and vice versa, and there is no money transmission.

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