NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma

Crypto Exchanges Don’t Need Licenses in Colorado For Fiat, Positive Development

Ali Raza
Ali Raza
6 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The State of Colorado recently released a special guidance that will eliminate the need for money transmitting licenses in crypto exchanges in cases when no fiat currencies are being involved.

No Fiat Used — No License Needed

Only days ago, on September 20th, a new interpretive guidance regarding the Colorado Money Transmitters Act’s applicability was released by the Colorado Division of Banking. The guidance addresses the way that the Money Transmitters Act will affect crypto companies, and for once, it would seem that the news is actually a positive one.

The cooperation between Colorado AG’s office and the Division of Banking has taken months. Still, the two managed to come up with the helpful guidance that will allow crypto firms to make a step forward. It is expected to help the crypto firms that are trying to navigate the unregulated industry and make their business easier to develop.

According to what is known so far, the document touches upon the operations of these firms and determines if they need a money transmission license for such operations. The guidance, of course, will only include companies based in the State of Colorado. Apart from that, it will set some specific circumstances where the law of Colorado will require crypto firms to be in possession of a money transmission license.

However, the guidance also claims that the license won’t be necessary for making any transaction, as long as no fiat currency is involved in said transaction. Instead, the license will only be needed when a crypto/fiat transactions are being made, when one customer transfers the currency to another customer in the exchange, and when the exchange transfers fiat currencies by using cryptos as a medium.

If, however, one cryptocurrency is transferred from one user to another, as they can get during regular trading, the money transmission license will not be necessary.

An Example to Others

This kind of guidance was greeted with a lot of positivity, as the crypto community believes that it represents the step in the right way for cryptos in the US.

Colorado issues excellent guidance: non-fiat crypto activities do not require money transmission licensing. Well done, Colorado!! https://t.co/7HU4ieYz3D @DENStartupWeek @coloradogov @denbizjournal @coindesk @ShapeShift_io

— Erik Voorhees (@ErikVoorhees) September 21, 2018

Additionally, the guidance also allows Colorado to join Wyoming as one of the best blockchain tech jurisdictions in the entire US. The move is seen by many as extremely innovation-friendly and forward-looking. This is also why many are convinced that it will quickly attract digital economy pioneers and similar companies that require friendlier conditions.

It can only be hoped that the other states will see this as a proper example of how to improve and that their regulatory agencies will consider following in Colorado’s footsteps. Especially the strict jurisdictions that are not only not helping their crypto communities and businesses, but are actually making it almost impossible for them to function properly.

Tweet123Share196ShareSend
Ali Raza
Ali Raza

Ali Raza

A freelance journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali's work has been published on a number of cryptocurrency publications.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Το Dogecoin πλησιάζει το $1 – Ελπίδες για νέο ράλι ανόδου στην τιμή

Το Dogecoin επανέρχεται στο επίκεντρο της αγοράς κρυπτονομισμάτων, καθώς η τιμή του αυξήθηκε κατά 20% μέσα σε λίγες ημέρες, με...

Ιωάννης Ριζόπουλος 18 hours ago
Chainlink

Institutional Adoption Rises: 21X Brings Chainlink Into Europe’s Tokenized Securities Market

Chainlink’s price is wrestling with key support near $21, a level that has drawn heavy attention from traders and institutions...

Christian Encila 20 hours ago

Bitcoin Holds $112,000 Support As Binance Whale Activity Cools Off – What’s Ahead?

Bitcoin (BTC) continues to defend the $112,000 support level following days of tepid price action, unable to give a clear...

Ash Tiwari 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Crypto

SEC Chair Declares ‘Crypto’s Time Has Come’ In Latest Statement – Get The Full Scoop

Ronaldo Marquez 49 minutes ago
Cardano news Charles Hoskinson

Cardano Founder Hoskinson Says Ethereum Is Doomed To Fail: Here’s How

Jake Simmons 1 hour ago
adoption-crypto-bielorussie-pression-banques

Adoption crypto : la Biélorussie met la pression sur ses banques

guillaumev 6 hours ago

Premium Sponsors

Press Releases

  • Първата meme монета с модел „Mine-to-Earn“ PepeNode събра $900K в пресейл – остават 7 часа до края на финансирането

    Първата meme монета с модел...

    8 hours ago
  • Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które osiągną 10 $ przed Ripple (XRP) i Cardano (ADA)

    Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które...

    9 hours ago
  • Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które osiągną 10 $ przed Ripple (XRP) i Cardano (ADA)

    Zamień 300 $ na 30 000 $ dzięki tym 3 monetom, które...

    10 hours ago
  • Primul Meme Coin „Mine-to-Earn” PepeNode strânge 4,2 milioane RON în presale – 7 ore rămase în etapa de finanțare

    Primul Meme Coin „Mine-to-Earn” PepeNode strânge 4,2...

    10 hours ago
  • Achizițiile instituționale de Bitcoin se usucă, în timp ce cel mai rapid Layer-2 pe Bitcoin, Bitcoin Hyper (HYPER), atinge 67,7 milioane RON în presale

    Achizițiile instituționale de Bitcoin se usucă, în timp...

    11 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.