PliOS Resources
State money transmitter license guides
Regulator, bond, net worth, fees, timeline, and crypto notes for each state — written for companies preparing an MTL application or banking-partner questionnaire.
Northeast
Connecticut
Connecticut Department of Banking
Typical timeline: 6–10 months
View requirementsMaine
Maine Bureau of Consumer Credit Protection
Typical timeline: 3–6 months
View requirementsMassachusetts
Massachusetts Division of Banks
Typical timeline: 5–9 months (expect variability as the new regime matures)
View requirementsNew Hampshire
New Hampshire Banking Department
Typical timeline: 4–7 months (for covered fiat transmitters)
View requirementsNew Jersey
New Jersey Department of Banking and Insurance (DOBI)
Typical timeline: 6–10 months
View requirementsNew York
New York Department of Financial Services (NYDFS)
Typical timeline: 6–12 months for MTL; 12–24+ months for BitLicense
View requirementsPennsylvania
Pennsylvania Department of Banking and Securities (DoBS)
Typical timeline: 5–10 months
View requirementsRhode Island
Rhode Island Department of Business Regulation, Banking Division
Typical timeline: 4–8 months
View requirementsVermont
Vermont Department of Financial Regulation
Typical timeline: 4–8 months
View requirementsSoutheast
Alabama
Alabama Securities Commission
Typical timeline: 4–8 months
View requirementsArkansas
Arkansas Securities Department
Typical timeline: 4–8 months
View requirementsDelaware
Delaware Office of the State Bank Commissioner
Typical timeline: 4–9 months (expect variability during implementation)
View requirementsDistrict of Columbia
DC Department of Insurance, Securities and Banking (DISB)
Typical timeline: 4–8 months
View requirementsFlorida
Florida Office of Financial Regulation (OFR)
Typical timeline: 4–8 months
View requirementsGeorgia
Georgia Department of Banking and Finance
Typical timeline: 4–8 months
View requirementsKentucky
Kentucky Department of Financial Institutions
Typical timeline: 4–8 months
View requirementsLouisiana
Louisiana Office of Financial Institutions (OFI)
Typical timeline: 5–10 months
View requirementsMaryland
Maryland Office of Financial Regulation
Typical timeline: 5–9 months
View requirementsMississippi
Mississippi Department of Banking and Consumer Finance
Typical timeline: 3–7 months
View requirementsNorth Carolina
North Carolina Commissioner of Banks (NCCOB)
Typical timeline: 4–8 months
View requirementsSouth Carolina
South Carolina Attorney General, Money Services Division
Typical timeline: 4–8 months
View requirementsTennessee
Tennessee Department of Financial Institutions (TDFI)
Typical timeline: 4–8 months
View requirementsVirginia
Virginia State Corporation Commission, Bureau of Financial Institutions (SCC BFI)
Typical timeline: 4–9 months
View requirementsWest Virginia
West Virginia Division of Financial Institutions
Typical timeline: 4–8 months
View requirementsMidwest
Illinois
Illinois Department of Financial and Professional Regulation (IDFPR)
Typical timeline: 5–9 months
View requirementsIndiana
Indiana Department of Financial Institutions
Typical timeline: 4–8 months
View requirementsIowa
Iowa Division of Banking
Typical timeline: 4–7 months
View requirementsKansas
Office of the State Bank Commissioner of Kansas
Typical timeline: 4–7 months
View requirementsMichigan
Michigan Department of Insurance and Financial Services (DIFS)
Typical timeline: 5–9 months
View requirementsMinnesota
Minnesota Department of Commerce
Typical timeline: 4–8 months
View requirementsMissouri
Missouri Division of Finance
Typical timeline: 3–7 months
View requirementsNebraska
Nebraska Department of Banking and Finance
Typical timeline: 4–8 months
View requirementsNorth Dakota
North Dakota Department of Financial Institutions
Typical timeline: 4–7 months
View requirementsOhio
Ohio Department of Commerce, Division of Financial Institutions
Typical timeline: 5–9 months
View requirementsSouth Dakota
South Dakota Division of Banking
Typical timeline: 4–7 months
View requirementsWisconsin
Wisconsin Department of Financial Institutions
Typical timeline: 4–8 months
View requirementsSouthwest
Arizona
Arizona Department of Insurance and Financial Institutions (DIFI)
Typical timeline: 4–8 months
View requirementsNew Mexico
New Mexico Regulation and Licensing Department, Financial Institutions Division (RLD FID)
Typical timeline: 4–8 months
View requirementsOklahoma
Oklahoma State Banking Department
Typical timeline: 4–8 months
View requirementsTexas
Texas Department of Banking
Typical timeline: 5–10 months
View requirementsWest
Alaska
Alaska Division of Banking and Securities
Typical timeline: 5–9 months
View requirementsCalifornia
California Department of Financial Protection and Innovation (DFPI)
Typical timeline: 9–15 months for the MTL; DFAL timelines still developing
View requirementsColorado
Colorado Division of Banking (Department of Regulatory Agencies)
Typical timeline: 4–8 months
View requirementsHawaii
Hawaii Division of Financial Institutions (DCCA)
Typical timeline: 4–8 months (fiat MTL)
View requirementsIdaho
Idaho Department of Finance
Typical timeline: 3–6 months
View requirementsMontana
Montana Division of Banking and Financial Institutions
Typical timeline: Not applicable
View requirementsNevada
Nevada Financial Institutions Division (FID)
Typical timeline: 4–8 months
View requirementsOregon
Oregon Division of Financial Regulation (DFR)
Typical timeline: 4–8 months
View requirementsUtah
Utah Department of Financial Institutions
Typical timeline: 4–8 months
View requirementsWashington
Washington Department of Financial Institutions (DFI)
Typical timeline: 5–9 months
View requirementsWyoming
Wyoming Division of Banking
Typical timeline: 3–7 months (MTL); SPDI chartering is a longer banking process
View requirementsThese guides are educational and do not constitute legal advice. Statutes, bond amounts, fees, and agency interpretations change frequently — always verify current requirements directly with the state regulator before filing.
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