Southeast · Last reviewed 2026-07
District of Columbia money transmitter license
Requirements, bond, timeline, and crypto notes for the Money Transmitter License — for companies preparing an application or diligence questionnaire.
Key requirements
- License
- Money Transmitter License
- Statute
- D.C. Code § 26-1001 et seq. (Money Transmitters Act)
- Surety bond
- Typically $50,000 minimum, scaling with volume
- Net worth
- Commonly cited around $100,000; verify with DISB
- NMLS
- Required
- Application fee
- Roughly $500 plus NMLS and investigation fees, as of our last review
- Typical timeline
- 4–8 months
Crypto & virtual currency
DISB has indicated that custody and intermediated virtual currency activity for District residents generally requires a money transmitter license under D.C. Code § 26-1001 et seq. Pure two-party buy/sell from inventory is less certain and should be confirmed in writing rather than assumed exempt or covered. DC is small but should not be skipped in a state-by-state rollout: it is a dense, high-income market, and DISB participates in multistate examination programs, so deficiencies found elsewhere can surface here. Requirements change frequently — always verify current figures and interpretations directly with the state regulator before filing.
Frequently asked questions
Do crypto companies need a money transmitter license in Washington, DC?
Custody and intermediated virtual currency activity for District residents generally requires a money transmitter license under D.C. Code § 26-1001 et seq. Pure buy/sell from inventory is less settled — seek a written determination from DISB for your specific model rather than relying on informal assumptions.
Is DC part of the multistate licensing process?
Yes. DC uses NMLS and participates in coordinated multistate review and examination programs, which can streamline applications if you are filing in many states at once — and means examination findings travel across jurisdictions.
What does a DC license cost?
As of our last review: an application fee around $500, a surety bond typically starting at $50,000, and net worth commonly cited near $100,000. Verify current amounts with DISB, as fee schedules are updated periodically.
This page is educational and does not constitute legal advice. Requirements change frequently — always verify current figures and interpretations directly with DC Department of Insurance, Securities and Banking (DISB) before filing.