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27 September 2020

49 US States Unveil Unified Regulation for Cryptocurrency Firms | Regulation Bitcoin News

49 US States Unveil Unified Regulation for Cryptocurrency Firms | Regulation Bitcoin News


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The Conference of State Bank Supervisors, representing regulators from all U.S.

The new regulatory regime for money services businesses launched by the Conference of State Bank Supervisors (CSBS) on Tuesday will help companies expand across U.S.

Under the new framework, nationwide payments firms — including Western Union and Paypal — will undergo a single comprehensive exam by a joint group of state regulators to satisfy all state regulatory requirements, instead of having to pass dozens of individual state exams?

“The single exam will be led by one state overseeing a group of examiners sourced from across the country,” the announcement continues.

“By relying on experts across the state system — including in cyber security and anti-money laundering — regulators will gain more insight while also freeing up state resources.”.

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