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Can I obtain a money transmitter license in Nevada? What are the requirements?

Yes, you can obtain a money transmitter license in Nevada. The requirements for obtaining a license as an exchange facilitator are outlined in NRS 645G.100. To obtain a license as an exchange facilitator in Nevada, you must:

  1. Be licensed with the Division of Financial Institutions.
  2. Pay the fee prescribed by NRS 645G.220.
  3. Submit the following information to the Division:
  1. Arrange to have taken, by a law enforcement agency or other authorized entity acceptable to the Division, a complete set of the applicant’s fingerprints and the fingerprints of each person or officer who will be conducting the business of the applicant in this State and who has authority to transfer exchange money held by the applicant.
  2. Submit a completed fingerprint card and written permission authorizing the Division to submit the fingerprints described in paragraph (a) to the Central Repository for Nevada Records of Criminal History for submission to the Federal Bureau of Investigation for a report on the background of each person whose fingerprints were taken and to such other law enforcement agencies as the Division deems necessary.
  3. The Division may submit those fingerprints to the Central Repository for submission to the Federal Bureau of Investigation and to such other law enforcement agencies as the Division deems necessary.
  4. The Division shall approve an application submitted pursuant to this section within 45 days after the submission of the completed application, any additional information required by the Division and proof satisfactory to the Division that the applicant has complied with the provisions of NRS 645G.320. Upon approval of an application, the Division shall issue a license to the applicant.
  5. A license issued pursuant to this chapter must be renewed annually on or before July 1, by providing the information required by the Division for that purpose and paying a renewal fee prescribed by NRS 645G.220.

A financial institution may obtain a special license pursuant to NRS 645G.210. The Division shall issue a special license to a financial institution if the financial institution maintains an office in Nevada, pays the fee required pursuant to NRS 645G.220 for the issuance of a license, and complies with any other requirements set forth by regulations adopted by the Division. A financial institution which obtains a special license pursuant to this section is exempt from the requirements of subsections 2 to 7, inclusive, of NRS 645G.100 except as otherwise required by regulations adopted by the Division. A license issued pursuant to this section must be renewed annually on or before July 1 by providing the information required by the Division for that purpose and paying the renewal fee prescribed by NRS 645G.220. [2.1][1.2]