Connecticut (CT)
Money transmission and virtual currency licensing planning data for Connecticut.
Population weight (planning): 1.07% · Back to matrix · Launch map
How to read this page: confirmed cells are checked against a primary regulatory source and dated. Under review marks a cell where primary sources conflict or a figure awaits confirmation.
MTL required
Yes. Money transmission is defined to include receiving money or monetary value for transmission by any means, including virtual currency, and Department of Banking opinion letters confirm an exchange holding or transmitting fiat or virtual currency for Connecticut residents needs a licence. Conn. Gen. Stat. 36a-596, 36a-598.
Verified 2026-07-16. Source
Fiat treatment
Receiving money or monetary value for transmission is the core licensed activity; virtual currency is treated similarly to fiat under the same statute rather than a separate scheme. Conn. Gen. Stat. 36a-596.
Verified 2026-07-16. Source
Virtual currency treatment
Expressly written into the money transmission statute, not guidance-only or a separate regime: virtual currency is a defined term folded into money transmission and monetary value, and 2019 opinion letters confirm exchanges holding or transmitting fiat or virtual currency for residents need a licence, with no carve-out for broker-dealers or out-of-state trust companies. Conn. Gen. Stat. 36a-596, 36a-609.
Verified 2026-07-16. Source
NMLS / portal
Money Transmission License, filed through the Nationwide Multistate Licensing System.
Verified 2026-07-16. Source
MTMA adoption
partial: H.B. 5211 (2024); see also S.B. 268 (2022), effective October 1, 2024.
Verified 2026-07-16. Source
Launch posture
amber: Virtual currency is squarely inside the statute with strong regulator opinion-letter support, but the currency-specific bond has no fixed ceiling, only a case-by-case Commissioner determination, which.
Verified 2026-07-16. Source
Net worth / capital (locked)
Net worth / capital is included with access.Permissible investments (locked)
Permissible investments is included with access.Exam / audit timeline (locked)
Exam / audit timeline is included with access.Practitioner notes (locked)
Practitioner notes is included with access.Under the planning scenario
LicenceMap's bond and net worth figures use one scenario throughout: a virtual currency exchange with a fiat on and off ramp, $50m in annual US transmission volume, $2m in average daily outstanding liability, and a single principal office.
Surety bond: Surety bond is included with access.
Net worth / capital: Net worth / capital is included with access.