Post by congregatio on Jan 22, 2015 2:02:13 GMT 4
PayBase, which has acted as a money transmitter business, does not have the required licenses in all the states they operate.
While the company applied for federal MSB status, acknowledged by FinCEN on 12/29 (original file was 12/26), they have not received a single MSB license in a single state that responded to our request in the United States as of January 21st. The revelation opens a potential legal can of worms for the company who has operated as a MSB since it opened and has done so without the proper licenses.
While the company applied for federal MSB status, acknowledged by FinCEN on 12/29 (original file was 12/26), they have not received a single MSB license in a single state that responded to our request in the United States as of January 21st. The revelation opens a potential legal can of worms for the company who has operated as a MSB since it opened and has done so without the proper licenses.
