Rhode Island (RI)
Money transmission and virtual currency licensing planning data for Rhode Island.
Population weight (planning): 0.32% · 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 19-14.3 licenses 'virtual currency business activity' (exchanging, transferring or storing virtual currency) as currency transmission in its own right, so a CVC exchange with a fiat ramp is squarely covered regardless of the ramp itself.
Verified 2026-07-16. Source
Fiat treatment
Fiat currency transmission is licensed under R.I. Gen. Laws chapter 19-14.3 (Currency Transmissions), together with the bonding and licensed-activities provisions of chapter 19-14, administered by the Department of Business Regulation's Division of Banking.
Verified 2026-07-16. Source
Virtual currency treatment
Included directly: 'virtual currency business activity' is defined at section 19-14.3-1.1(23) and licensed as currency transmission. Sections 3.5 to 3.13 add virtual-currency-specific disclosure, custody, fraud-prevention and kiosk rules onto the same licence.
Verified 2026-07-16. Source
Regulator
Rhode Island Department of Business Regulation (DBR), Division of Banking.
Verified 2026-07-16. Source
NMLS / portal
Currency Transmitter licence via NMLS; Rhode Island's Phase Two requirements checklist is published on the NMLS State Resource Center.
Verified 2026-07-16. Source
MTMA adoption
partial: H.B. 7282 (2024); see also Banking Bulletins 2022-1 and 2022-2, effective June 25, 2024.
Verified 2026-07-16. Source
Launch posture
green: Lowest fixed bond in the batch, no numeric net-worth floor, and the clearest, most comprehensive statutory inclusion of virtual currency of the seven jurisdictions.
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.