Massachusetts (MA)
Money transmission and virtual currency licensing planning data for Massachusetts.
Population weight (planning): 2.07% · 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. Chapter 169B (licensing effective 1 January 2026) requires a money transmitter licence for anyone selling payment instruments, issuing stored value, or receiving money for transmission from a Massachusetts consumer, replacing the old foreign transmittal agency and check seller regime.
Verified 2026-07-16. Source
Fiat treatment
Domestic fiat transmission is regulated for the first time. Section 1 defines money transmission as selling payment instruments, selling stored value, or receiving money for transmission from a person in the Commonwealth for personal, family or household purposes; business-to-business flows are outside scope.
Verified 2026-07-16. Source
Virtual currency treatment
No express virtual currency definition. The Division of Banks FAQ states common transactional virtual currencies such as Bitcoin or USDC count as monetary value under section 1, so a CVC exchange with a fiat ramp typically needs a licence; closed loop game currency does not.
Verified 2026-07-16. Source
Regulator
Massachusetts Division of Banks, within the Office of Consumer Affairs and Business Regulation.
Verified 2026-07-16. Source
NMLS / portal
NMLS Money Transmitter licence (Massachusetts). The Division began accepting applications through NMLS around 1 July 2025, with no licences issued before 1 January 2026.
Verified 2026-07-16. Source
Launch posture
amber: Brand new domestic regime only fully operative from January 2026, with administratively set fees and no published processing timeline yet.
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.