Vermont (VT)
Money transmission and virtual currency licensing planning data for Vermont.
Population weight (planning): 0.19% · 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, both the fiat and virtual-currency sides of this scenario trigger licensure. Money transmission is defined broadly at 8 V.S.A. section 2503(17), and section 2573(b) states that a person engaging in virtual-currency business activity is engaged in the business of money transmission, so a single licence must be authorised for virtual-currency business activity.
Verified 2026-07-16. Source
Fiat treatment
Money transmission is defined at 8 V.S.A. section 2503(17) as selling or issuing payment instruments, selling or issuing stored value, or receiving money for transmission, in each case to or from a person located in Vermont. A fiat on/off ramp falls within this definition, requiring a licence under section 2505.
Verified 2026-07-16. Source
Virtual currency treatment
Defined within the same money transmission statute rather than a separate charter. Section 2503(27) and (29) define virtual currency and virtual-currency business activity, and a dedicated Subchapter 010 (sections 2571 to 2577), added by 2024's Act 110, layers custody, disclosure, and net-worth conditions onto money transmission licensees authorised for that activity.
Verified 2026-07-16. Source
Regulator
Vermont Department of Financial Regulation (DFR), Banking Division, which licenses and supervises money transmitters and money services businesses under Title 8, Chapter 79.
Verified 2026-07-16. Source
NMLS / portal
NMLS licence type: Money Transmitter. Applications, authorised-delegate reporting (UAAR), and renewals are all submitted through NMLS; DFR's own Money Services page sets out fees and prerequisites and links through to the NMLS portal.
Verified 2026-07-16. Source
MTMA adoption
full per the CSBS tracker: H. 659 (2024), effective 1 July 2024. Some practitioner analyses class Vermont as a modified adoption.
Verified 2026-07-16. Source
Launch posture
amber: The 2024 MTMA-style bond formula scales to the full $2,000,000 statutory cap for this scenario's outstanding liability, and a dedicated virtual-currency subchapter adds custody, disclosure, and.
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.