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How to Get a Money Transmitter License (MTL) for Your US Crypto Exchange - Printable Version

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How to Get a Money Transmitter License (MTL) for Your US Crypto Exchange - julieeprince - 21-06-2025

If you're planning to launch a crypto exchange in the United States, obtaining a Money Transmitter License (MTL) is a critical legal requirement. This license allows your platform to legally transfer, receive, or exchange funds on behalf of users—a core function of any cryptocurrency exchange.
In the U.S., each state issues its own MTL, meaning you may need multiple licenses depending on where you plan to operate. Additionally, before applying for state licenses, your exchange must register as a Money Services Business (MSB) with FinCEN, the federal financial crime regulator. Without these credentials, operating a crypto exchange can lead to legal penalties and shutdowns.
? MTL Application Requirements Typically Include:
  • Business registration documents
  • Detailed compliance program (KYC/AML)
  • Background checks on executives
  • Surety bonds (varies by state)
  • Net worth or capital reserve proof
  • Fingerprinting and criminal record checks
The MTL process can take several months to over a year depending on the state. That’s why it’s important to plan your licensing roadmap early, budget accordingly, and ensure your technical and compliance infrastructure is aligned with regulatory standards.
To make this complex process easier, we've created a complete breakdown that walks you through federal and state-level licensing essentials, timelines, and compliance tips.
? Read the full guide here:
how-to-launch-crypto-exchange-usa-with-licence
If you're serious about launching a crypto exchange in the U.S., understanding how to obtain and manage your MTLs is the first step toward a secure, legal, and scalable platform.