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Faizal Khan, a banking and payment consultant, discusses how to obtain a money transmitter license in the United States. Money transmitter licenses are required for businesses classified as money services, regulated by state financial regulators. There are 550 licenses in total across the US, including Washington DC and US territories. Each state and territory requires a separate application. These licenses are costly and require significant paid-up capital, especially in states like California. Check out Faizal's videos for more detailed information.
