You have to have a money transmitter license for each state you do business. I looked up all MT in my state and there were about 20, paypal, etc, only 2 names I didn't recognize. Follow each states rules, plus register with FINcen and you should be fine, but talk to an attorney. its a pain to get a mt license in most states, in my state you have to be worth over a million dollars, 250k bond, etc, nevada, you have to be worth like 100k and have 50k bond, so each state is different. it will cost about 5k to 15k to get licensed in each state if you get a lawyer to do it, which I would.. then you have to report suspicious acivity, etc. if you arent making this a big business, id probably stick to one state...
One idea that i had was to get the list of money transmitters that are smaller companies, and pitch them, see if they want to go into business with you for a piece, use their license.. ive heard of one person doing that...
This, ask a consultant, lawyer or localbitcoin support they might help you out and give you information's regarding the steps you need to take. You will probably need a license for professional money transmission. One idea that i had was to get the list of money transmitters that are smaller companies, and pitch them, see if they want to go into business with you for a piece, use their license.. ive heard of one person doing that...
