Iowa (IA)
Money transmission and virtual currency licensing planning data for Iowa.
Population weight (planning): 0.94% · 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. Iowa Code ch. 533C treats virtual currency as monetary value, so both the fiat ramp and the crypto exchange leg of this scenario fall within one money transmission licence, confirmed by Iowa Division of Banking guidance.
Verified 2026-07-16. Source
Fiat treatment
Money transmission covers selling or issuing payment instruments or stored value, and receiving money or monetary value for transmission, under Iowa Code section 533C.301 and the definitions in section 533C.102.
Verified 2026-07-16. Source
Virtual currency treatment
Included within the statute. The Iowa Division of Banking treats virtual currency as monetary value under section 533C.102, so receiving virtual currency for transmission requires a licence. Kiosk operators face added wallet-verification duties under section 533C.1004, effective 1 July 2025.
Verified 2026-07-16. Source
Regulator
Iowa Division of Banking (IDOB), within the Department of Insurance and Financial Services.
Verified 2026-07-16. Source
NMLS / portal
Money Transmitter Licence, Iowa Division of Banking, applied for and renewed through NMLS.
Verified 2026-07-16. Source
Launch posture
green: Modern Model Act chapter with virtual currency expressly folded into the statutory definition, fixed statutory fees, and a stated 121-day decision clock.
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.