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Money Transmission

The Minnesota Department of Commerce licenses and regulates individuals and businesses that cash checks, transmit money, own and operate ATMs, and provide electronic funds transfers.

The Department has issued guidance on potential licensure as a money transmitter related to virtual currency: Virtual Currency Guidance (.pdf)

Beginning September 1, 2016, individuals and business who currently have a currency exchange license will need to register with NMLS.

Currency Exchange Licenses  (.pdf)

Beginning July 1, 2016, individuals and business who own or maintain an ATM will need to register with NMLS.

Electronic Financial Terminals Letter (.pdf)

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