The Pennsylvania Department of Banking and Securities (DoBS) says cryptocurrency exchanges in the state do not require Money Transmission Business Licenses. MTA Not Applicable to Bitcoin in Pennsylvania In a memo titled “Money Transmitter Act Guidance for Virtual Currency Businesses,” the Pennsylvania DoBS clarified that the Money Transmitter Act (MTA) did not apply to cryptocurrency exchanges. The clarification focused on the precise definitions encompassed in the MTA, which focused on what constitutes money and when isRead MoreThe post Bitcoin Exchanges Don’t Need Money Transmitter Licenses in Pennsylvania appeared first on Bitcoinist.com.
