Pennsylvania Issues Money Transmitter Act Guidance for Virtual Currency Businesses - Hunton Andrews Kurth LLP
Pennsylvania issued guidance clarifying that virtual currency businesses must comply with the Money Transmitter Act, including licensing requirements and AML obligations.
Aforeworn detected this change in the Money Services & Money Transmitters space on July 8, 2026 and published this briefing so affected operators are forewarned rather than caught off guard. It is rated High urgency. Virtual currency businesses operating in Pennsylvania, including crypto exchanges, wallets, and payment processors. should confirm how it applies to their specific situation before acting. There is a time constraint attached: Immediate; no grace period specified. Non-compliance risks enforcement actions.. Acting after that point can mean penalties, a lapsed licence, or lost eligibility — exactly the kind of surprise Aforeworn exists to prevent. Aforeworn monitors Money Services & Money Transmitters continuously and turns every detected change into a plain-English briefing like this one, so you always know first. Forewarned is forearmed.
What changed
The Pennsylvania Department of Banking and Securities issued guidance stating that virtual currency transmission is money transmission under the Money Transmitter Act, requiring licensing and compliance with AML/BSA rules.
Who it affects
Virtual currency businesses operating in Pennsylvania, including crypto exchanges, wallets, and payment processors.
What you must do
Assess whether your business activities constitute money transmission in Pennsylvania and apply for a license if required.
Deadline
Immediate; no grace period specified. Non-compliance risks enforcement actions.
Never miss a change like this again
Aforeworn watches Money Services & Money Transmitters around the clock and alerts you the moment a rule moves — with a plain-English brief on what to do.
Start your free trial