All developments
FinCENLicensingApril 30, 2026

FinCEN Seeks Comments on MSB Registration Form 107 Renewal

FinCEN is inviting public comments on renewing — without change — the BSA requirement for money services businesses to register using FinCEN Form 107, renew that registration every two years, and maintain an agent list where applicable. While no rule changes are proposed, this is a timely reminder for MSBs (including many crypto firms that qualify as MSBs) to confirm their registration is current and their agent list is accurate, as lapses can trigger BSA violations.

What to do

  • Verify that your FinCEN MSB registration is active, confirm your two-year renewal date, and ensure your agent list is up to date before the comment period closes.

Who this affects

Money Services BusinessCrypto ExchangeWallet ProviderPayments Company

Does this affect your program?

Pick your institution type for an instant read on whether you're in scope — then see exactly which sections of your own policies this changes.

Source

Read the official publication

This radar entry is educational and does not constitute legal advice. Summaries are AI-assisted and grounded in the linked official source; always verify against the primary source and consult qualified legal counsel for jurisdiction-specific guidance.

Related developments

FinCEN

FinCEN Proposes Expanding Huione Group Designation to Cover H-Pay Service PLC

FinCEN is proposing to expand the existing Section 311 designation of Huione Group — already identified as a primary money laundering concern — to explicitly include H-Pay Service PLC and introduce a 'successor entity' definition, preventing the group from evading restrictions by rebranding. The existing special measure prohibiting U.S. financial institutions from maintaining correspondent or payable-through accounts for Huione Group remains in force. Any firm that processes crypto or fiat payments must screen for H-Pay Service PLC and future successor entities named under this action.

CFTC

CFTC & SEC Ask How to Clarify 'Swap' Definition for Innovative Products

The CFTC and SEC are seeking comment on how to draw clearer regulatory lines between swaps and security-based swaps, particularly for innovative products that may implicate both agencies' jurisdiction. This is directly relevant to crypto firms offering derivative or hybrid digital asset products that could be classified as swaps or securities. The request also covers alternative compliance pathways, which could benefit crypto-native firms.

SEC

SEC & CFTC Seek Comment on Clearer Rules for Innovative Swap Products

This is the SEC-side publication of the joint CFTC/SEC request for comment on clarifying the definitions of 'swap' and 'security-based swap' for novel financial products, including alternative compliance approaches. Digital asset products that straddle the SEC/CFTC boundary — such as crypto perpetuals or tokenized derivatives — are directly implicated. Clearer lines could significantly affect how crypto firms register and comply.

FinCEN

Proposed Rule: Stablecoin Issuers Must Have BSA-Compliant Customer ID Programs

FinCEN, OCC, the Federal Reserve, FDIC, and NCUA are jointly proposing a rule under the GENIUS Act that would formally classify permitted payment stablecoin issuers as 'financial institutions' under the Bank Secrecy Act and require them to maintain a Customer Identification Program (CIP). This means stablecoin issuers would face the same KYC/AML obligations as banks and MSBs, including identity verification at onboarding. Any firm issuing, managing, or providing custody or payment rails for payment stablecoins needs to assess whether it falls within the rule's scope and begin gap-analyzing its CIP infrastructure.

Stay ahead of every rule change

PliOS monitors FinCEN, OCC, OFAC, the SEC and CFTC and tells you which of your policies each new rule affects — with the edit already drafted. Start free.

Run My Free Assessment