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Faizal Khan, a banking and payment consultant, explains the process of obtaining a money transmitter license in the United States. Money services businesses are required to obtain this license to operate legally. Each state has its own license, with a total of 55 licenses available in the US, including ones for territories like Guam and Puerto Rico. These licenses are expensive and require a significant amount of paid-up capital. Watch Faizal's videos for more detailed information and guidance on obtaining a money transmitter license.