California Money Transmission Act

URI: https://gptkb.org/entity/California_Money_Transmission_Act
GPTKB entity
Statements (28)
Predicate Object
gptkbp:instanceOf gptkb:law
gptkbp:amendedBy 2014
2015
2016
gptkbp:appliesTo digital currency businesses
virtual currency exchanges
gptkbp:citation gptkb:California_Financial_Code_Division_1.2,_Sections_2000-2172
gptkbp:dateEnacted 2010
gptkbp:enactedBy gptkb:California_State_Legislature
gptkbp:enforcedBy gptkb:California_Department_of_Financial_Protection_and_Innovation
gptkbp:excludes gptkb:government_agency
banks
federally chartered credit unions
https://www.w3.org/2000/01/rdf-schema#label California Money Transmission Act
gptkbp:jurisdiction gptkb:California
gptkbp:penalty criminal penalties
civil penalties
gptkbp:provides consumer protection
gptkbp:purpose regulate and supervise money transmission in California
gptkbp:regulates payment processors
money transmitters
stored value issuers
gptkbp:requires financial reporting
background checks
licensing of money transmitters
maintenance of permissible investments
gptkbp:bfsParent gptkb:California_Department_of_Financial_Protection_and_Innovation
gptkbp:bfsLayer 6