Will an app that allows people send money internationally be disruptive? This app allows users become their own money transmitters by personally exchanging currencies with other money senders, eliminating the need for money transmitters.

There are various ways of looking at it, rather than just the money transmission angle. State regulators or federal regulators will look at the intent of your app. Some pertinent questions are: Does your app facilitate the transactions? Yes! Can the marketplace charge a fees for such a facilitation? Yes! Does the app aid in the transfer of money […]

Read More