KCN IN SEVEN STATES, THE UNITED STATES HAS INTRODUCED A LICENSE FOR FINTECH
Banking regulators of seven U.S. states have agreed to simplify the way financial technology companies can apply for licenses, in a bid to make it easier for businesses to offer their services nationwide. The states of Georgia, Illinois, Kansas, Massachusetts, Tennessee, Texas and Washington, will recognize each other’s findings when assessing the suitability of companies applying for money service business licenses, the national organization of state bank regulators said on Tuesday. Money business licenses are used by a wide range of young digital companies that provide financial services, from money transfer startups to bitcoin exchanges. The initiative responds to longstanding complaints by fintech startups about the costly and time consuming process of having to secure licenses separately in each state in order to operate in the United States. It is reported by Reuters. Subscribe to our social networks and send us your news! The news release partner STEX.
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