US State Money Transmission Tracker

How we track this

• MTMA status follows the CSBS adoption map and its state enactments table dated 8 October 2026. CSBS states that 31 states have enacted the model law. Its map shows those 31 as enacted and four more (California, Connecticut, Rhode Island and Utah) as enacted in part. Our counts match.
• Bill references come from the CSBS legislative update (August 2026). Enactment dates come from the state legislature's own record, read for each state where we could open it. Effective dates come from the two CSBS documents, checked against the legislature where we could. Where the two CSBS documents disagree and the state record did not settle it, we show the status without a date.
• A state counts as having a stablecoin regime when a law or regulator framework in that state licenses or charters payment stablecoin issuers. We read each statute or regulator notice. Proposals are described but not counted.
• GENIUS Act certification status comes from Treasury's interim final rule of 30 September 2026 and the Federal Register. Treasury will post a notice when it begins accepting certifications. As at the date of this page, it has not.
• Each state's licensing link goes to its page on the NMLS State Resource Center, the system state regulators use for money transmitter licences.
• We link only to primary sources: CSBS, state legislatures, state regulators, Treasury and the Federal Register.

Main sources

• CSBS: Money Transmission Modernization Act
• CSBS: State MTMA enactments table (8 October 2026)
• CSBS: MTMA proposed and enacted legislation (August 2026)
• Congress.gov: GENIUS Act, Public Law 119-27 (18 July 2025)
• Federal Register: Treasury interim final rule on state certifications (30 September 2026)
• Federal Register: Treasury proposed principles for state regimes (3 April 2026)
• NMLS State Resource Center

What we could not confirm

• Enactment dates we could not confirm on a state record: Arizona, California, Connecticut, Georgia, Hawaii, Illinois, Indiana, Kansas, Mississippi, Missouri, Nevada, New Hampshire, Rhode Island, South Carolina, South Dakota, Virginia, West Virginia and Wisconsin. Maryland adopted the model law by regulation.
• Effective dates where CSBS documents disagree and we show none: California, New Hampshire, North Dakota and South Carolina.
• Indiana's 2026 bill to prohibit virtual currency kiosks (H.B. 1116) passed the General Assembly, but we could not confirm the Governor's action on an official page, so it is not listed.
• No state regulator or Treasury has published a GENIUS Act certification. Treasury has not said whether it will publish the certifications it receives.

Licensing in more than one state

Most firms that move money in the United States need a licence in each state where they serve customers, alongside federal registration as a money services business. The requirements, bonds and timelines are on our US money transmitter licence, FinCEN MSB registration and US payment stablecoin issuer pages.

For the federal route for stablecoin issuers, read how to apply as a GENIUS Act stablecoin issuer. For what a licensed money transmitter must do each year, see money transmitter compliance requirements and our money services businesses hub.

You may quote this tracker with a link to this page. This page is general information as at 30 October 2026 and is not legal advice.