ARTICLE
8 October 2018

NYDFS Expands Access To Nationwide Multistate Licensing System To Check Casher And Virtual Currency Firms

CW
Cadwalader, Wickersham & Taft LLP

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
Beginning on October 1, 2018, financial service companies holding check casher and virtual currency business activity licenses ...
United States Finance and Banking

Beginning on October 1, 2018, financial service companies holding check casher and virtual currency business activity licenses may transition those licenses to the Nationwide Multistate Licensing System and Registry ("NMLS"). The New York Department of Financial Services stated that entities applying for new licenses will be able to apply through NMLS. NMLS, a web-based licensing system, allows entities to apply for, update, and renew their state licenses online.

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