Summary: According to Reuters, The Conference of State Bank Supervisors (CSBS) will introduce a new regulatory regime for money services companies, the new one will simplify from dozens of individual state exams to a single exam by a combination of state regulators that oversee licensing. Within the same rules and standards across 48 states, this streamlined regime ...

According to Reuters, The Conference of State Bank Supervisors (CSBS) will introduce a new regulatory regime for money services companies, the new one will simplify from dozens of individual state exams to a single exam by a combination of state regulators that oversee licensing.

Within the same rules and standards across 48 states, this streamlined regime aims to make companies much easier to operate across multiple states. Payment, or cryptocurrency firms, like Ripple, Paypal, etc, will benefit from it. 

By Mary Liu