Northeast · Last reviewed 2026-07
New Hampshire money transmitter license
Requirements, bond, timeline, and crypto notes for the Money Transmitter License (convertible virtual currency businesses statutorily exempt — see notes) — for companies preparing an application or diligence questionnaire.
Key requirements
- Regulator
- New Hampshire Banking Department
- License
- Money Transmitter License (convertible virtual currency businesses statutorily exempt — see notes)
- Statute
- RSA 399-G (Licensing of Money Transmitters); convertible virtual currency exemption at RSA 399-G:3 (HB 436); RSA 358-A (consumer protection)
- Surety bond
- For covered transmitters, typically $100,000 scaling with volume
- Net worth
- Among the more substantial requirements for covered transmitters — commonly cited around $1,000,000; verify current figures
- NMLS
- Required
- Application fee
- Roughly $500 plus NMLS fees, as of our last review
- Typical timeline
- 4–7 months (for covered fiat transmitters)
Crypto & virtual currency
New Hampshire took the deregulatory path by statute: HB 436 amended RSA 399-G:3 to exempt persons who engage in the business of selling or issuing payment instruments or stored value solely in the form of convertible virtual currency, or who receive convertible virtual currency for transmission to another location, from money transmitter licensing. Crypto-only businesses serving New Hampshire are therefore exempt by statute — one of the cleanest exemptions in the country. The exemption does not cover fiat: dollar transmission still requires the RSA 399-G license. Exempt businesses remain subject to New Hampshire consumer protection law (RSA 358-A) and the full federal stack (FinCEN MSB registration, BSA/AML, OFAC). Requirements change frequently — always verify current figures and interpretations directly with the state regulator before filing.
Frequently asked questions
Is crypto exempt from money transmitter licensing in New Hampshire?
Yes — by statute. HB 436 amended RSA 399-G:3 to exempt businesses dealing solely in convertible virtual currency from MTL requirements. It is one of the clearest statutory crypto exemptions in the country. Fiat transmission remains licensable.
Does the New Hampshire exemption eliminate all my obligations?
No. You remain a federal money services business: FinCEN registration, a BSA/AML program, SAR filing, and OFAC compliance all still apply. New Hampshire consumer protection law (RSA 358-A) also applies. The exemption removes only the state licensing layer.
What if my platform also moves fiat in New Hampshire?
Then the exemption does not cover that activity — fiat transmission requires the RSA 399-G license, with a bond typically from $100,000 and one of the more substantial net worth expectations in the region. Analyze each product flow separately.
This page is educational and does not constitute legal advice. Requirements change frequently — always verify current figures and interpretations directly with New Hampshire Banking Department before filing.