Our strategic partnerships with other crytocurrency platforms have secured the proper FinCEN and DOBA regulations under the Bank Secrecy Act (BSA) in operating as a Money Services Business (MSB). With these partnerships, we have the ability to transact cryptocurrency in all 50 states with a Money Transmitter License (MTL).
We have partnered with service providers for integrating the following services of our BTMs at our locations:
COMPLETE FEDERAL AND STATE COMPLIANCE:
We are NOT a competitor of the traditional banking system, nor their ATM machines, under the Federal Government's U.S. Treasury Department's FinCEN guidelines, BTM's transacting in crypto-currency are considered a Money-Services Business ( MSB), and under Federal Law 18 UCS § 1960 we do hold a Money-Transmitters License ( MTL) in California and within the states where our activity falls within the state definition of a money transmitter. Through our strategic Principal Licensee Partnership we have secured the necessary surety bonds and have achieved ALL of the necessary Licensing and other requirements to operate legally and in Full Compliance of ALL Federal and State requirements and regulations governing the operation of our business. We adhere to The Bank Secrecy Act of 1970 (or BSA, or otherwise known as the Currency and Foreign Transactions Reporting Act) which requires financial institutions in the United States to assist U.S. government agencies to detect and prevent money laundering (AKA:"AML:" Anti-Money Laundering). We are compliant in each and every aspect our business model, including Know Your Customer (KYC) and the appropriate recording of any Monetary Instrument Logs (MIL's), and the ability to issue any Suspicious Activity Report (SAR), and and any and all other Currency Transaction Reports (CTR's) and additional requirements maintained within the Law. We have taken great pains to have ALL of our Legal bases covered and to achieve only the highest standards of operation!