Tennessee (TN)
Money transmission and virtual currency licensing planning data for Tennessee.
Population weight (planning): 2.12% · 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
Limited. The Money Transmitter Licence itself, and its surety bond, do not cover virtual currency transmission. The Department's own guidance says a company that exchanges, administers or maintains virtual currencies for sovereign currency 'may be subject to' state licensing and federal regulation, without confirming this licence is the vehicle.
Verified 2026-07-16. Source
Fiat treatment
Fiat money transmission is licensed under the Money Transmission Modernization Act, Tenn. Code Ann. section 45-7-101 et seq. (effective 1 January 2024), administered by the Department of Financial Institutions.
Verified 2026-07-16. Source
Virtual currency treatment
Expressly excluded from the core licence: the Department states 'cryptocurrency is not money under the Tennessee Money Transmitter Act' and receiving it for later delivery is not money transmission. Tennessee did not adopt the Act's optional virtual currency provisions, unlike North Dakota and Minnesota.
Verified 2026-07-16. Source
NMLS / portal
Money Transmitter licence via NMLS; the Tennessee Money Transmitter License Requirements Checklist is published within NMLS.
Verified 2026-07-16. Source
Launch posture
amber: The Department's own hedge over whether fiat-for-crypto exchange needs this specific licence creates real interpretive uncertainty, and several dollar figures remain unverified against a primary fee.
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.