Regulatory Alerts2026-05-14
Added · Updated
Final Order on Petition for Declaratory Statement — Magasy LLC
The Florida Office of Financial Regulation issued a final order granting Magasy LLC's petition for a declaratory statement regarding its proposed principal-based over-the-counter digital asset transactions. The Office concluded that because Magasy acts as the direct counterparty and does not transmit funds for third parties, its activities do not constitute money transmission under Chapter 560, Florida Statutes. Consequently, Magasy is not required to obtain a money services business license to conduct these specific two-party transactions with Florida customers.