FinCEN money services business (MSB) registration
The US federal registration that crypto exchangers and transmitters must file with FinCEN. It is a registration, not a licence.
Source
31 CFR 1022.380; FinCEN guidance FIN-2019-G001
Last reviewed
October 16, 2026
Under the US Bank Secrecy Act, a business that transmits money, including convertible virtual currency, is a money services business (MSB). FinCEN's 2019 guidance confirmed that most crypto exchangers and administrators fall into this category. An MSB must register with FinCEN, run an anti-money laundering programme, keep records and file suspicious activity reports.
FinCEN does not vet firms before registering them, and its public MSB list states that registration is not a recommendation or endorsement. For a counterparty check, a FinCEN registration shows that a firm declared itself to the federal regulator. It does not show that any state has licensed it, which is a separate requirement. See state money transmitter licence.