Regulatory Alerts2026-08-17
Added
Kansas Money Transmission Act Outline and Statutes
The Kansas Money Transmission Act establishes licensing requirements for entities engaging in money transmission, including virtual currency transactions, payroll processing, and the issuance of payment instruments or stored value within Kansas. The statutes define key terms such as control, money transmission, and net worth, while outlining exemptions for federally insured depository institutions, government agencies, and certain payment processors. Licensees are subject to financial reporting, surety bond requirements, and commissioner oversight, with new provisions mandating that the Kansas Attorney General and law enforcement agencies report fraudulent money transmission violations to the Commissioner and share information accordingly.