---
title: "Licensing, Authorisation & Market Access (W1a) by jurisdiction — World Payments Monitor"
canonical: https://payments.gi/modules/licensing-authorisation-market-access/
source_html: /modules/licensing-authorisation-market-access/index.html
description: "Licensing, Authorisation & Market Access (W1a) across 154 jurisdictions: standing position, confidence and sourced findings for each, from the World Payments Monitor weekly cycle."
generated_at: 2026-11-15T08:17:58Z
content_sha256: d9efa3ad7cfea34decf7470ca3156b9e561464f079cc650b7663d9ccb160f480
generator: "fe-fleet/md-twin@1.0"
---
# Licensing, Authorisation & Market Access

W1a

Who is permitted to operate, and on what terms — PI/EMI and bank-PSP authorisation, passporting and outsourcing.

154 Jurisdictions

14 Moved this cycle

3,031 Sourced findings

W1a Module

Every jurisdiction World Payments Monitor tracks for W1a, with the standing position recorded in the current weekly cycle. Each entry links to the full module on that jurisdiction’s page, where the sourced findings and evidence sit.

Filter jurisdictions in W1a Moved this cycle Confirmed 139 Probable 15 154 of 154

### Africa

AFR Confirmed 13 sourced findings

South Africa's SARB Payments Ecosystem Modernisation programme is set to open the national payment system to licensed non-banks in H2 2026 under a draft activity-based authorisation framework; the COFI Bill was approved by Cabinet in April 2026; and FSCA's… [Full module →](https://payments.gi/jurisdictions/africa/#w1a-licensing-authorisation-market-access)

### Algeria

DZ Probable 27 sourced findings

Algeria's Monetary and Banking Law (Law No. 23-09, 2023) created a non-bank Payment Service Provider (PSP) status for the first time; the Bank of Algeria set incorporation, licensing and operating conditions via Regulation No. 25-02 of 14 April 2025 and… [Full module →](https://payments.gi/jurisdictions/algeria/#w1a-licensing-authorisation-market-access)

### Argentina

AR Confirmed 24 sourced findings

Argentina's PSP regime was overhauled by BCRA Comunicación "A" 8432/2026 (6 May 2026), creating the 'PSPCP como Servicio' category, tightening registration and compliance-officer disclosure duties, and extending the start-of-operations deadline to 12 months.

### Asia-Pacific

APAC Confirmed 19 sourced findings

APAC payment licensing perimeters are expanding rapidly and independently into digital-asset and stablecoin regulation across Singapore, Hong Kong, India, Australia and Japan; no harmonised regional framework exists, and each jurisdiction's instrument moves… [Full module →](https://payments.gi/jurisdictions/asia-pacific/#w1a-licensing-authorisation-market-access)

### Australia

AU Confirmed 21 sourced findings

Treasury Laws Amendment (Payments System Modernisation) Act 2025 (Cth), in force from 19 December 2025, expands the Payment Systems (Regulation) Act 1998 perimeter to BNPL, digital wallets, crypto-asset payment facilitators and cash distribution services… [Full module →](https://payments.gi/jurisdictions/australia/#w1a-licensing-authorisation-market-access)

### Austria

AT Confirmed 27 sourced findings

Austria runs a function-based licensing regime under the Payment Services Act 2018 (ZaDiG 2018, transposing PSD2), the Banking Act (BWG) and the Electronic Money Act 2010 (E-GeldG). The FMA is sole licensing/supervisory authority for payment institutions… [Full module →](https://payments.gi/jurisdictions/austria/#w1a-licensing-authorisation-market-access)

### Bangladesh

BD Probable 34 sourced findings

Bangladesh Bank issued a unified FX circular on 1 November 2026 consolidating prior FX management directives (rate determination, AD-bank procedures, Nostro reconciliation, forward/swap/hedging) into a single one-year framework, reiterating the prohibition on… [Full module →](https://payments.gi/jurisdictions/bangladesh/#w1a-licensing-authorisation-market-access)

### Belgium

BE Confirmed 18 sourced findings

Belgian payment/e-money institutions remain authorised under PSD2/EMD2 via the NBB (prudential) and FSMA (conduct/open-banking); PSD3/PSR text approved by national representatives 22 April 2026, formal adoption expected later in 2026, ahead of national… [Full module →](https://payments.gi/jurisdictions/belgium/#w1a-licensing-authorisation-market-access)

### Brazil

BR Confirmed 19 sourced findings

From 6 November 2026, BCB-authorised financial and payment institutions face restrictions on operating with, or facilitating operations for, virtual-asset entities not authorised by the BCB (Resolução BCB 520/2025), per BCB clarification of 22 October 2026.

### Bulgaria

BG Confirmed 20 sourced findings

Bulgaria completed euro adoption on 1 January 2026 (21st euro-area member); BNB joined the Eurosystem and SSM. Under the Instant Payments Regulation (EU) 2024/886, Bulgarian PSPs - as a state adopting the euro before 9 April 2027 - must comply with Articles… [Full module →](https://payments.gi/jurisdictions/bulgaria/#w1a-licensing-authorisation-market-access)

### Cambodia

KH Probable 22 sourced findings

Cambodia has no separate EMI regime; NBC licenses banks, specialized banks and PSIs under the LBFI and 2017 PSI Prakas. A new NBC Notification (14.026.1075, 6 Aug 2026) extends registration-style obligations to single-purpose e-wallet issuers outside the… [Full module →](https://payments.gi/jurisdictions/cambodia/#w1a-licensing-authorisation-market-access)

### Cameroon

CM Confirmed 18 sourced findings

Non-bank payment services in Cameroon operate under the CEMAC/BEAC dual PSP/EMI licensing framework; Order No. 080/CAB of 28 May 2025 tightened the statutory definition of 'electronic means of payment', pulling any electronically-stored monetary value… [Full module →](https://payments.gi/jurisdictions/cameroon/#w1a-licensing-authorisation-market-access)

### Canada

CA Confirmed 17 sourced findings

Retail Payment Activities Act (RPAA) core supervisory obligations are in force under Bank of Canada supervision; the Bank published its first enforcement decisions (Notices of Violation) in August 2026, all concerning operating without registration under… [Full module →](https://payments.gi/jurisdictions/canada/#w1a-licensing-authorisation-market-access)

### Canada – Alberta

CA-AB Confirmed 22 sourced findings

CA-AB has no separate provincial payments-licensing regime; PSPs are fully captured by the federal RPAA, in force since Sep 8 2025, with roughly 1,500 PSPs under Bank of Canada supervision and a rolling public registry; first annual report due Mar 31 2026.

### Canada – British Columbia

CA-BC Confirmed 17 sourced findings

Canada has no BC-specific payment-institution licensing regime. The federal Retail Payment Activities Act (RPAA), supervised by the Bank of Canada, is the sole applicable payment-services supervisory framework for payment service providers operating in or… [Full module →](https://payments.gi/jurisdictions/canada-british-columbia/#w1a-licensing-authorisation-market-access)

### Canada – New Brunswick

CA-NB Confirmed 18 sourced findings

New Brunswick has no province-level payment-services licensing regime; PSPs operating in or serving NB are captured by the federal Retail Payment Activities Act (RPAA), administered by the Bank of Canada. RPAA registration has been mandatory since November… [Full module →](https://payments.gi/jurisdictions/canada-new-brunswick/#w1a-licensing-authorisation-market-access)

### Canada – Ontario

CA-ON Confirmed 26 sourced findings

Canada's Consumer-Driven Banking (open banking) framework completed its legislative basis via Bill C-15; Draft Consumer-Driven Banking Regulations were pre-published in the Canada Gazette on 27 June 2026, 60-day consultation closing 26 August 2026. The Bank… [Full module →](https://payments.gi/jurisdictions/canada-ontario/#w1a-licensing-authorisation-market-access)

### Canada – Quebec

CA-QC Confirmed 14 sourced findings

CA-QC money services businesses face a dual-licence regime: federal FINTRAC registration under PCMLTFA plus a distinct provincial licence from Revenu Québec under the Money-Services Businesses Act. A new cryptoasset-ATM money-service category, with its own… [Full module →](https://payments.gi/jurisdictions/canada-quebec/#w1a-licensing-authorisation-market-access)

### Chile

CL Confirmed 17 sourced findings

Under the Fintec Law (Ley 21.521), the Banco Central de Chile (BCCh) holds statutory power to regulate stablecoin issuance and operation as a means of payment; as of the August 2026 Informe de Sistemas de Pago the BCCh has moved from a purely… [Full module →](https://payments.gi/jurisdictions/chile/#w1a-licensing-authorisation-market-access)

### China (mainland)

CN Confirmed 13 sourced findings

China's payments regime rests on the State Council's Regulations on Supervision and Administration of Non-Bank Payment Institutions (effective 2024-05-01), PBOC implementing rules, and an 8-regulator Financial Product Online Marketing Management Rules package… [Full module →](https://payments.gi/jurisdictions/china-mainland/#w1a-licensing-authorisation-market-access)

### Colombia

CO Probable 7 sourced findings

Colombia's payments regulatory architecture centers on Banco de la Republica (Bre-B interoperable instant-payments scheme under Law 2294/2023 Art.104 mandate) and the SFC (licensing/supervision of banks, EMIs/SEDPEs, and other entities under an expanding Open… [Full module →](https://payments.gi/jurisdictions/colombia/#w1a-licensing-authorisation-market-access)

### Costa Rica

CR Probable 9 sourced findings

Costa Rica has no dedicated EMI/PI licensing regime, but following Attorney General's Office opinion PGR-C-196-2024, BCCR amended the Payment System Regulations to create Resource Administration Accounts (CAR) for SINPE-affiliated non-bank PSPs; a standalone… [Full module →](https://payments.gi/jurisdictions/costa-rica/#w1a-licensing-authorisation-market-access)

### Croatia

HR Confirmed 19 sourced findings

Croatia operates a fully-transposed PSD2 licensing regime under the Payment System Act, with HNB as sole competent authority; PSD3/PSR reached provisional political agreement 27 Nov 2025, expected application ~early 2028.

### Curaçao

CW Confirmed 13 sourced findings

Curacao's payments licensing regime is anchored in the Centrale Bank van Curacao en Sint Maarten (CBCS) as sole prudential/AML regulator. Banks are licensed under the 1994 National Ordinance on Supervision of Banking and Credit Institutions; money transfer… [Full module →](https://payments.gi/jurisdictions/curacao/#w1a-licensing-authorisation-market-access)

### Cyprus

CY Confirmed 26 sourced findings

The Central Bank of Cyprus (CBC) is the competent authority for Payment Institutions and Electronic Money Institutions. Effective 3 August 2026, the CBC introduced a revised licensing process adding a pre-application 'exploratory stage' ahead of formal… [Full module →](https://payments.gi/jurisdictions/cyprus/#w1a-licensing-authorisation-market-access)

### Czech Republic

CZ Confirmed 20 sourced findings

CZ crypto-asset services now exclusively under CNB MiCA CASP authorisation as of 1 July 2026; legacy Trade Licensing Act VASP registration route expired; 11 entities authorised of 251 applications assessed.

### Denmark

DK Confirmed 12 sourced findings

Denmark regulates payment services under the Payments Act (Lov om betalinger, implementing PSD2/EMD2), administered exclusively by Finanstilsynet (Danish FSA). Providers must hold authorisation as a payment institution or e-money institution (or operate via… [Full module →](https://payments.gi/jurisdictions/denmark/#w1a-licensing-authorisation-market-access)

### Dominican Republic

DO Confirmed 15 sourced findings

BCRD remains the primary payments regulator under Ley 183-02; BCRD is additionally developing the Sistema de Gestión de Pagos Instantáneos (SGPI), targeted for 2027, open to non-bank PSPs on equal footing with banks.

### Ecuador

EC Confirmed 18 sourced findings

BCE Resolucion JPRFM-2026-029-M (18 Jun 2026) confirms the Central Bank as sole inter-network clearer of payment operations once the SIP is enabled, amending real-time-payment and payment-key definitions; BCE-GG-008-2025 sets cybersecurity/connection… [Full module →](https://payments.gi/jurisdictions/ecuador/#w1a-licensing-authorisation-market-access)

### Egypt

EG Confirmed 14 sourced findings

CBE regulates banking and payments under Law No. 194/2020; FRA regulates non-bank financial services. CBE issued PSO/PSP licensing rules in June 2025 (implementing the March 2024 Payment Systems and Services Oversight Policy) with a 12-month transition ending… [Full module →](https://payments.gi/jurisdictions/egypt/#w1a-licensing-authorisation-market-access)

### Estonia

EE Confirmed 15 sourced findings

Estonia operates the standard EEA PSD2/EMD2 licensing model: Finantsinspektsioon authorises and supervises payment institutions and e-money institutions under PIEIA/MERAS, with dual bank/non-bank routes and EEA passporting.

### European Economic Area

EEA Probable 25 sourced findings

The EEA payment-services licensing perimeter currently runs under PSD2 (Directive (EU) 2015/2366) and EMD2 (Directive 2009/110/EC), with home-state NCA authorisation passportable across all 30 EEA states. The replacement PSD3/PSR package (provisional… [Full module →](https://payments.gi/jurisdictions/european-economic-area/#w1a-licensing-authorisation-market-access)

### Finland

FI Confirmed 21 sourced findings

Finland regulates payment institutions and e-money institutions under PSD2/EMD2-derived national law (Act 898/2017, Act 890/2017), supervised by FIN-FSA. PSD3/PSR final texts were agreed at EU level in 2026 (ECON approval 5 May 2026) and will apply on a… [Full module →](https://payments.gi/jurisdictions/finland/#w1a-licensing-authorisation-market-access)

### France

FR Confirmed 20 sourced findings

France operates under the post-Brexit-irrelevant EEA/PSD2 layer, supervised by ACPR (authorisation) and Banque de France (payments oversight). The EU PSD3/PSR package reached political agreement on 27 November 2025; formal adoption/OJ publication is expected… [Full module →](https://payments.gi/jurisdictions/france/#w1a-licensing-authorisation-market-access)

### Germany

DE Confirmed 23 sourced findings

Germany's payment-institution regime sits under ZAG with BaFin as supervisor; PSD3/PSR final texts (agreed 23 Apr 2026) and CRD VI's third-country-branch regime will reshape German market access once transposed/applicable; Consumer Credit Directive (EU)… [Full module →](https://payments.gi/jurisdictions/germany/#w1a-licensing-authorisation-market-access)

### Ghana

GH Confirmed 11 sourced findings

Ghana payments licensing anchored by Act 987 (BoG-administered): tiered non-bank PSP regime (Standard/Medium/Enhanced), DEMI for non-bank e-money, bank/SDI route under Act 930; minimum capital/permissible activities/fees set by Notice BG/GOV/SEC/2019/16.

### Gibraltar

GI Confirmed 25 sourced findings

GFSC applies a supervisory expectation of a 20% uplift (120% of the 2EMD minimum) on EMI Ongoing Capital under Administrative Notice 9, though the EMRs permit +/-20% discretion.

### Greece

GR Confirmed 11 sourced findings

GR payment/e-money institutions remain supervised by the Bank of Greece under PSD2/EMD2 transposition; a new omnibus bill (tabled 26 Oct 2026, in committee review) would additionally mandate electronic payment acceptance for courier/parcel-delivery companies… [Full module →](https://payments.gi/jurisdictions/greece/#w1a-licensing-authorisation-market-access)

### Hong Kong

HK Confirmed 20 sourced findings

HKMA disclosed in an October 2026 LegCo reply that it received 16 complaints (Jan 2024-Sept 2026) about suspected unlicensed SVF activity, substantiated one, and will pursue direct enforcement; the PSSVFO/AMLO activity-based licensing split (SVF vs money… [Full module →](https://payments.gi/jurisdictions/hong-kong/#w1a-licensing-authorisation-market-access)

### Hungary

HU Confirmed 12 sourced findings

MNB is the single national competent authority for payment-institution/EMI authorisation and crypto-asset service provision. A new ATM Act requires MNB-designated payment service providers to install/operate ATMs in every municipality, with non-compliance… [Full module →](https://payments.gi/jurisdictions/hungary/#w1a-licensing-authorisation-market-access)

### Iceland

IS Confirmed 12 sourced findings

The Central Bank of Iceland remains the single consolidated supervisor for payment and e-money institutions under Act 114/2021 (PSD2) and for crypto-asset service providers under Act 101/2025 (MiCA). Myntkaup ehf was authorised as the first (and as of October… [Full module →](https://payments.gi/jurisdictions/iceland/#w1a-licensing-authorisation-market-access)

### India

IN Confirmed 23 sourced findings

RBI's consolidated Payment Aggregator Directions, 2025 (effective 15 Sept 2025) rationalised and repealed the 2020/2021 PA-PG Guidelines and the 2023 cross-border PA framework, creating PA-Online, PA-Cross-Border and PA-Physical categories, with rolling… [Full module →](https://payments.gi/jurisdictions/india/#w1a-licensing-authorisation-market-access)

### Ireland

IE Confirmed 36 sourced findings

Payment institutions and EMIs in Ireland are authorised and supervised by the Central Bank of Ireland under PSD2 as transposed by the European Union (Payment Services) Regulations 2018. Ireland remains one of the EU's principal PI/EMI authorisation hubs… [Full module →](https://payments.gi/jurisdictions/ireland/#w1a-licensing-authorisation-market-access)

### Isle of Man

IM Confirmed 24 sourced findings

IOMFSA remains the sole financial-services/payments regulator (Financial Services Act 2008); the Financial Services (Miscellaneous Provisions) Bill 2026 has entered the Royal Assent process and the consolidated Fees Order 2026 is in force from 1 April 2026… [Full module →](https://payments.gi/jurisdictions/isle-of-man/#w1a-licensing-authorisation-market-access)

### Italy

IT Confirmed 10 sourced findings

Italy runs a dual bank-PSP / non-bank licensing regime under the Testo Unico Bancario (TUB, D.Lgs. 385/1993) and the PSD2-transposing D.Lgs. 11/2010, supervised by Banca d'Italia. Payment institutions (IP) and e-money institutions (IMEL) are authorised and… [Full module →](https://payments.gi/jurisdictions/italy/#w1a-licensing-authorisation-market-access)

### Ivory Coast (UEMOA bloc)

CI Confirmed 23 sourced findings

Payment-institution and e-money-issuer licensing in Côte d'Ivoire runs through BCEAO's single UMOA-wide authorisation regime; the CI-domiciled payment-institution cohort has grown to nine agréments as of the BCEAO's February 2026 register, and a fourth… [Full module →](https://payments.gi/jurisdictions/ivory-coast-uemoa-bloc/#w1a-licensing-authorisation-market-access)

### Japan

JP Confirmed 14 sourced findings

Japan's core non-bank payments/crypto statute is the Payment Services Act (PSA, Act No. 59 of 2009). A major 2025 amendment package took operational effect 2026-06-13. The FIEA/PSA amendment reclassifying crypto assets as financial instruments received final… [Full module →](https://payments.gi/jurisdictions/japan/#w1a-licensing-authorisation-market-access)

### Kazakhstan

KZ Confirmed 20 sourced findings

A new 'first-category payment organisation' licence class under the National Bank, able to combine payment services with certain banking operations, took effect from October 2026.

### Kenya

KE Confirmed 26 sourced findings

Kenya's payments regime is in the early stage of a comprehensive overhaul: the National Treasury and CBK published the draft National Payment System Bill, 2026 and draft National Payment System Policy, 2026 for public consultation, proposing to repeal and… [Full module →](https://payments.gi/jurisdictions/kenya/#w1a-licensing-authorisation-market-access)

### Laos

LA Probable 23 sourced findings

BOL paused new non-bank financial institution (microfinance, pawnshop) licensing in Vientiane from 31 July 2026 pending a supervisory review; press reporting (1 Oct 2026) indicates BOL intends to reopen applications under a revised framework by end of 2026.

### Latin America

LATAM Confirmed 19 sourced findings

Mexico's Chamber of Deputies Finance Committee approved the draft Ley de Economía Digital para Pagos Digitales y Electrónicos on 1 October 2026 (24-4), building on SPEI/CoDi/DiMo infrastructure and introducing a digital CURP/citizen digital file for… [Full module →](https://payments.gi/jurisdictions/latin-america/#w1a-licensing-authorisation-market-access)

### Latvia

LV Confirmed 27 sourced findings

Latvia continues rapid EMI/PI/CASP licensing growth through 2026 under Latvijas Banka's single-authority model, with a new EMI licence to SIA MOIN Payments (8 July 2026) and a PI licence to Nexdesk SIA (27 May 2026), plus the specialised credit institution… [Full module →](https://payments.gi/jurisdictions/latvia/#w1a-licensing-authorisation-market-access)

### Liechtenstein

LI Confirmed 17 sourced findings

The Article 143(3) MiCAR transitional window for Liechtenstein-registered TVTG service providers closed on 1 July 2026; TVTG registration alone no longer suffices for MiCAR-scoped crypto-asset activity, and firms must hold Article 63 (or, for already-licensed… [Full module →](https://payments.gi/jurisdictions/liechtenstein/#w1a-licensing-authorisation-market-access)

### Lithuania

LT Confirmed 22 sourced findings

Confirmed this cycle via SOURCED-REPORT INTAKE verification: PSD3/PSR's provisional compromise text (published 23 April 2026) will retire the standalone EMI authorisation, folding it into a payment-institution sub-category; existing EMIs, a population… [Full module →](https://payments.gi/jurisdictions/lithuania/#w1a-licensing-authorisation-market-access)

### Luxembourg

LU Confirmed 26 sourced findings

Following the CRD VI Transposition Act (Law of 5 May 2026), the Art 32(5) cross-border licensing option for third-country firms is abolished; a Luxembourg branch is required under the new third-country branch regime applying from 11 January 2027.

### Macau SAR

MO Probable 16 sourced findings

Payment activities require prior Chief-Executive authorisation via Executive Order on AMCM advice under two licence categories; 2023 Financial System Act revision raised bank minimum capital to MOP 300 million and board minimum to five directors, and… [Full module →](https://payments.gi/jurisdictions/macau-sar/#w1a-licensing-authorisation-market-access)

### Malaysia

MY Confirmed 15 sourced findings

Consumer Credit Act 2025 (Act 873) in force 1 March 2026 under new Consumer Credit Commission; licensing/registration commences 1 June 2026 with transition to 30 Nov 2026.

### Malta

MT Confirmed 17 sourced findings

Malta regulates EMIs and Payment Institutions under the Financial Institutions Act and implementing FIR rules, supervised by the MFSA, within the EU PSD2/EMD2 harmonised regime enabling EEA passporting. PSD3/PSR reached provisional political agreement 27… [Full module →](https://payments.gi/jurisdictions/malta/#w1a-licensing-authorisation-market-access)

### Mexico

MX Confirmed 19 sourced findings

The Ley de Economía Digital para Pagos Digitales y Electrónicos passed the Mexican Senate on 20 October 2026 and awaits promulgation and publication in the DOF. It will require designated sectors (gasolineras and toll roads reported as first candidates) to… [Full module →](https://payments.gi/jurisdictions/mexico/#w1a-licensing-authorisation-market-access)

### Morocco

MA Confirmed 12 sourced findings

Payment institutions are licensed (agrément) by BAM's Governor under Law 103-12, now amended by Law 87.21 (~May 2026) to strengthen financial-stability oversight of systemically important institutions.

### Mozambique

MZ Probable 22 sourced findings

Bank of Mozambique is reaffirmed as central licensing/supervisory authority for the National Payment System under Lei n.º 15/2026, de 2 de Julho, which repeals Lei n.º 2/2008 and gives incumbent operators 180 days to register. Bank of Mozambique granted… [Full module →](https://payments.gi/jurisdictions/mozambique/#w1a-licensing-authorisation-market-access)

### Myanmar

MM Confirmed 15 sourced findings

Non-bank cross-border remittance business in Myanmar is now governed by CBM Notification No. 18/2026 (28 Apr 2026), which replaced the 2019 licensing framework with tighter beneficial-owner/management vetting, an escrow security deposit, and a 3-year licence… [Full module →](https://payments.gi/jurisdictions/myanmar/#w1a-licensing-authorisation-market-access)

### Nepal

NP Confirmed 27 sourced findings

The Payment and Settlement (First Amendment) Bill, 2083 -- introducing a fintech regulatory sandbox, mandatory National Payment Switch integration, a 30-day wallet-refund guarantee on licence revocation, and provision for foreign/global digital payment… [Full module →](https://payments.gi/jurisdictions/nepal/#w1a-licensing-authorisation-market-access)

### Netherlands

NL Confirmed 31 sourced findings

CASPs authorised under MiCA that provide certain payment services involving EMTs now generally require an additional PSD2 licence in the Netherlands: the DNB/EBA transitional enforcement-restraint period on the PSD2/MiCA interplay ended 1 March 2026, absent a… [Full module →](https://payments.gi/jurisdictions/netherlands/#w1a-licensing-authorisation-market-access)

### New Zealand

NZ Confirmed 17 sourced findings

RBNZ is consulting on modernising NZ's retail payments system (Issues Paper, submissions 18 Aug - 27 Oct 2026) and has separately paused development of a retail CBDC ('digital cash') announced 13 Oct 2026, while continuing to implement Deposit Takers Act 2023… [Full module →](https://payments.gi/jurisdictions/new-zealand/#w1a-licensing-authorisation-market-access)

### Nigeria

NG Probable 13 sourced findings

CBN continues to approve new entrants into the formal financial-services space; this cycle it granted approval-in-principle to JPMorgan to establish a merchant bank in Nigeria, signalling continued post-recapitalisation international interest.

### Norway

NO Confirmed 7 sourced findings

Norway implements the EU payment-services regime via the EEA agreement: PSD2 entered Norwegian law 1 April 2019, SCA/RTS in force since 14 September 2019, supervised by Finanstilsynet. Norway will need EEA incorporation of PSD3/PSR once finally adopted at EU… [Full module →](https://payments.gi/jurisdictions/norway/#w1a-licensing-authorisation-market-access)

### Pakistan

PK Confirmed 18 sourced findings

Pakistan's payment-institution regime is governed by the PSEFT Act 2007 (SBP Payment Systems Department), covering PSOs, PSPs and EMIs. A new adjacent VASP licensing perimeter opened in 2026 under PVARA, interoperating with the SBP-licensed payments perimeter… [Full module →](https://payments.gi/jurisdictions/pakistan/#w1a-licensing-authorisation-market-access)

### Panama

PA Probable 28 sourced findings

Panama has no single dedicated PSP/EMI/VASP licensing statute; SBP's Acuerdo No. 1-2026 (20 Oct 2026) newly obliges MICI-licensed empresas financieras to register with SBP as AML-obligated subjects, tightening the registration perimeter without creating a new… [Full module →](https://payments.gi/jurisdictions/panama/#w1a-licensing-authorisation-market-access)

### Peru

PE Confirmed 23 sourced findings

BCRP has newly asserted itself as regulator, supervisor and articulator of the national payments industry via the General Regulation of the National Payments System (Circular N° 0022-2025-BCRP, in force 1 April 2026), replacing 2010-era rules and requiring… [Full module →](https://payments.gi/jurisdictions/peru/#w1a-licensing-authorisation-market-access)

### Philippines

PH Confirmed 13 sourced findings

The Philippines payments regime is anchored by the National Payment Systems Act (RA 11127, 2018), under which the BSP exercises exclusive oversight of payment systems. Non-bank payment players register as Operators of Payment Systems (OPS) under BSP Circular… [Full module →](https://payments.gi/jurisdictions/philippines/#w1a-licensing-authorisation-market-access)

### Poland

PL Confirmed 23 sourced findings

KNF licenses payment institutions (KIP), small payment institutions (SPI/MIP) and e-money institutions (EMI) under Poland's Payment Services Act (transposing PSD2). A March 2026 amendment (Journal of Laws 2026 item 340, in force 28 March 2026) implements PSD2… [Full module →](https://payments.gi/jurisdictions/poland/#w1a-licensing-authorisation-market-access)

### Portugal

PT Confirmed 16 sourced findings

Portugal operates under the RJSPME (Decree-Law No 91/2018) transposing PSD2/EMD2, supervised by Banco de Portugal, with MiCA now transposed via Law 69/2025 and PSD3/PSR migration expected 2027.

### Qatar

QA Confirmed 14 sourced findings

QCB licenses and supervises PSPs, e-money issuers and BNPL providers under its Payment Services Regulation; licensee count reached 15 in early 2026 with Karty's e-money licence grant, continuing QCB's fintech-modernisation agenda.

### Romania

RO Confirmed 23 sourced findings

Romania regulates payments/e-money under Law 209/2019, supervised by the BNR; in 2026, BNR granted new Payment Institution licences to EuPlătesc and Netopia Payments, indicating active domestic PSP licensing throughput ahead of PSD3/PSR transposition.

### Russia

RU Probable 13 sourced findings

Russia's payment market is governed by the Federal Law 'On the National Payment System' (161-FZ), which defines money transfer operators, e-money operators, payment system operators and payment infrastructure service operators. The Bank of Russia licenses… [Full module →](https://payments.gi/jurisdictions/russia/#w1a-licensing-authorisation-market-access)

### Rwanda

RW Confirmed 18 sourced findings

Rwanda's payment-systems legal basis remains Law No. 061/2021 (BNR licensing) plus new instant-payment directives; a parallel Virtual Asset Law (No. 023/2026) now creates a CMA/BNR dual-track legal basis for virtual-asset-linked payment activity.

### Saudi Arabia

SA Confirmed 19 sourced findings

SAMA licenses payment service providers and payment system operators under the Law of Payments and Payment Services and its Implementing Regulations (PFMI-aligned). An updated supervisory framework (self-assessment + supervisory assessment methodology) now… [Full module →](https://payments.gi/jurisdictions/saudi-arabia/#w1a-licensing-authorisation-market-access)

### Senegal

SN Probable 23 sourced findings

Payment and e-money activity in Senegal is licensed at the WAEMU regional level by BCEAO. BCEAO Instruction n°020 (8 Oct 2026) amends Instruction n°008-05-2015, raising the per-client e-money balance ceiling to FCFA 4m and the monthly top-up ceiling to FCFA… [Full module →](https://payments.gi/jurisdictions/senegal/#w1a-licensing-authorisation-market-access)

### Serbia

RS Probable 26 sourced findings

NBS is sole authorising body for PIs/EMIs; the Law on Payment Services (amended 31 July 2024, applicable since 6 May 2025) harmonised with PSD2. A further NBS draft amendment package (public consultation closed 11 June 2026) aims at full EU-acquis alignment… [Full module →](https://payments.gi/jurisdictions/serbia/#w1a-licensing-authorisation-market-access)

### Singapore

SG Confirmed 24 sourced findings

Payment services in Singapore are licensed under the PSA 2019 (as amended). MAS revoked the Major Payment Institution Licence of Bsquared Technology Pte Ltd effective 14 May 2026; DTSP regime remains a high-bar, default-non-issuance lane for offshore-only… [Full module →](https://payments.gi/jurisdictions/singapore/#w1a-licensing-authorisation-market-access)

### Slovakia

SK Confirmed 14 sourced findings

PSD3/PSR advanced to Council 'I' Item Note (17 April 2026) and national-representative approval (22 April 2026); formal adoption expected 2026, national transposition ~2027-2028

### Slovenia

SI Confirmed 14 sourced findings

Payment services authorised/supervised under ZPlaSSIED (transposing PSD2) by Banka Slovenije. MiCAR EMT issuers require prior authorisation as an EMI or bank; must notify Banka Slovenije >=40 working days before public offer and >=20 working days before… [Full module →](https://payments.gi/jurisdictions/slovenia/#w1a-licensing-authorisation-market-access)

### South Africa

ZA Confirmed 25 sourced findings

The South African Reserve Bank has taken direct regulatory control of national payment system management, ending PASA's 27-year role as PSMB. From 11 August 2026 key functions, staff and IP began transferring to SARB; PASA's PSMB recognition formally lapsed… [Full module →](https://payments.gi/jurisdictions/south-africa/#w1a-licensing-authorisation-market-access)

### South Korea

KR Confirmed 12 sourced findings

PG service providers must externally manage and protect settlement funds, meet scaled capital requirements, and obtain approval for major-shareholder changes under the EFTA amendment promulgated 16 December 2025, effective 17 December 2026.

### Spain

ES Confirmed 11 sourced findings

PSD2 remains active baseline; PSD3/FIDA tracked as upcoming. From 2026, banks/PIs/EMIs must report all accounts to Hacienda regardless of balance, removing the prior EUR 3,000 threshold.

### Sri Lanka

LK Confirmed 15 sourced findings

CBSL is the sole payments regulator under the PSS Act No. 28 of 2005; card issuers/acquirers and mobile payment/e-money operators are licensed under the Payment Cards and Mobile Payment Systems Regulations No. 1 of 2013; money/value transfer service providers… [Full module →](https://payments.gi/jurisdictions/sri-lanka/#w1a-licensing-authorisation-market-access)

### Sweden

SE Confirmed 18 sourced findings

Sweden implements the new EU Consumer Credit Directive (CCD2) via a new Consumer Credit Act (lagen 2026:1011) and new licensing rules in Chapter 3a of the Act on business with housing credit and certain other consumer credits, in force from 20 November 2026… [Full module →](https://payments.gi/jurisdictions/sweden/#w1a-licensing-authorisation-market-access)

### Switzerland

CH Confirmed 17 sourced findings

Switzerland's fintech/payments licensing reform (payment instrument institution + crypto institution categories) is in consultation-closed status with Fintech Alliance endorsement; entry into force expected 2027.

### Taiwan

TW Confirmed 10 sourced findings

Taiwan's payments sector is governed by the Act Governing Electronic Payment Institutions (2015, amended January 2023) for fiat e-payment/e-money, and by the Virtual Asset Service Act (passed 30 June 2026) for crypto/stablecoin, shifting VASPs from… [Full module →](https://payments.gi/jurisdictions/taiwan/#w1a-licensing-authorisation-market-access)

### Tanzania

TZ Confirmed 17 sourced findings

Bank of Tanzania consultation on four draft Banking and Financial Institutions Regulations 2026 (Corporate Governance; Credit Concentration and Exposure Limits; Foreign Exchange Exposure Limits; Licensing) closed 28 October 2026; no finalised text yet… [Full module →](https://payments.gi/jurisdictions/tanzania/#w1a-licensing-authorisation-market-access)

### Thailand

TH Confirmed 17 sourced findings

Payment businesses in Thailand are licensed under the Payment Systems Act B.E. 2560 (2017), supervised by the Bank of Thailand. BOT released for public comment (23 July 2026) a draft Notification on Digital Channel Security extending mandatory security… [Full module →](https://payments.gi/jurisdictions/thailand/#w1a-licensing-authorisation-market-access)

### Tunisia

TN Confirmed 25 sourced findings

The BCT replaced its 2018 payment-institution framework (Circular 2018-16) with Circular 2026-10 (25 Sept 2026), introducing tighter governance, cyber-audit, digital-KYC and branch-network standards, with a 3-month transition to full compliance (~25 Dec… [Full module →](https://payments.gi/jurisdictions/tunisia/#w1a-licensing-authorisation-market-access)

### Turkey

TR Confirmed 16 sourced findings

Non-bank market access via PI and EMI licences under Law No. 6493 (2013); CBRT competent authority since 1 Jan 2020 (operational licensing from 18 Jan 2021); ~86 licensed PI/EMIs in 2024.

### Uganda

UG Confirmed 17 sourced findings

Uganda's payments licensing regime is anchored in the National Payment Systems Act, 2020 (NPSA) and the National Payment Systems Regulations, 2021, which vest the Bank of Uganda (BoU) with sole authority to license operators of payment systems, payment… [Full module →](https://payments.gi/jurisdictions/uganda/#w1a-licensing-authorisation-market-access)

### Ukraine

UA Confirmed 21 sourced findings

The NBU operationalised its Open Banking framework in 2025, requiring account-servicing PSPs (banks) to open standardised APIs to authorised third-party providers, with authorisation for non-financial PSPs governed by a dedicated NBU procedure.

### United Arab Emirates

AE Confirmed 21 sourced findings

The CBUAE's expanded Retail Payment Services and Card Schemes (RPSCS) perimeter under Federal Decree-Law No. 6 of 2025 took full compliance effect on 16 September 2026; entities newly in scope (open finance, payment services using virtual assets… [Full module →](https://payments.gi/jurisdictions/united-arab-emirates/#w1a-licensing-authorisation-market-access)

### United Kingdom

UK Confirmed 20 sourced findings

UK payment institutions (APIs/SPIs under the Payment Services Regulations 2017) and e-money institutions (AEMIs/SEMIs under the Electronic Money Regulations 2011) are supervised by the FCA. The Financial Services and Markets Bill 2026-27 (introduced in the… [Full module →](https://payments.gi/jurisdictions/united-kingdom/#w1a-licensing-authorisation-market-access)

### United States

US Confirmed 12 sourced findings

CFPB's Section 1033 (Personal Financial Data Rights / open-banking) rule remains enjoined and under full reconsideration; a new reconsideration NPRM was submitted to OIRA in August 2026. The original phased compliance schedule beginning April 2026 for the… [Full module →](https://payments.gi/jurisdictions/united-states/#w1a-licensing-authorisation-market-access)

### United States – Alabama

US-AL Confirmed 18 sourced findings

Alabama regulates money transmission (including virtual currency) under the Alabama Monetary Transmission Act (Ala. Code §8-7A-1 et seq.), administered by the Alabama Securities Commission (ASC) Registration Division, which replaced the 1961 Sale of Checks… [Full module →](https://payments.gi/jurisdictions/united-states-alabama/#w1a-licensing-authorisation-market-access)

### United States – Alaska

US-AK Confirmed 33 sourced findings

Alaska requires money-transmission licensure for virtual currency business activity under SB86 (most provisions effective 2027-07-01) and imposes kiosk-specific identity verification and transaction caps under SB249 (effective 2026-10-01).

### United States – Arizona

US-AZ Confirmed 19 sourced findings

Arizona has no standalone payments/EMI licensing regime. Money-transmission activity (including value-transfer businesses) is licensed by DIFI under A.R.S. Title 6, Chapter 12, following the state's adoption of the CSBS Model Money Transmission Modernization… [Full module →](https://payments.gi/jurisdictions/united-states-arizona/#w1a-licensing-authorisation-market-access)

### United States – Arkansas

US-AR Confirmed 18 sourced findings

Arkansas has no bespoke e-money/payment-institution regime; money transmission (including virtual-currency transmission and kiosk operation) is licensed under the Arkansas Uniform Money Services Act by the Arkansas Securities Department via NMLS. A licensed… [Full module →](https://payments.gi/jurisdictions/united-states-arkansas/#w1a-licensing-authorisation-market-access)

### United States – California

US-CA Confirmed 24 sourced findings

California remains a dual federal/state MTL regime with no single EMI charter. DFAL became statutorily operative Jul 1, 2026 as a distinct crypto-business licensing layer administered by DFPI, running parallel to the pre-existing MTA route. DFPI's… [Full module →](https://payments.gi/jurisdictions/united-states-california/#w1a-licensing-authorisation-market-access)

### United States – Colorado

US-CO Confirmed 22 sourced findings

Colorado regulates money transmission (including fiat-linked virtual-currency transmission) under the MTMA, C.R.S. Title 11 Art. 110 (HB25-1201), effective Aug 6, 2025. Most crypto exchanges need a Colorado MTL per the Division of Banking's Dec 18, 2025… [Full module →](https://payments.gi/jurisdictions/united-states-colorado/#w1a-licensing-authorisation-market-access)

### United States – Connecticut

US-CT Confirmed 18 sourced findings

US-CT has no bespoke payments/EMI licence; money transmission (including virtual-currency activity, digital wallets, and kiosks) is licensed by the CT Department of Banking under Conn. Gen. Stat. Sec. 36a-595 et seq. via NMLS, with PA 24-146 and PA 25-66… [Full module →](https://payments.gi/jurisdictions/united-states-connecticut/#w1a-licensing-authorisation-market-access)

### United States – Delaware

US-DE Confirmed 31 sourced findings

Delaware repealed its prior money-transmission statute (former Chapter 23, Title 5) and replaced it, via Senate Bill 18 (signed 2026-07-06/07), with the Delaware Money Transmission and Virtual Currency Modernization Act, expressly covering virtual-currency… [Full module →](https://payments.gi/jurisdictions/united-states-delaware/#w1a-licensing-authorisation-market-access)

### United States – District of Columbia

US-DC Confirmed 21 sourced findings

DC regulates payments licensing through DISB under the Money Transmitters Act of 2000 (DC Code Ch.26-10), a bank-vs-nonbank dual structure typical of the US state model, with DISB also chartering DC banks/trust companies; crypto/virtual-currency activity is… [Full module →](https://payments.gi/jurisdictions/united-states-district-of-columbia/#w1a-licensing-authorisation-market-access)

### United States – Florida

US-FL Confirmed 24 sourced findings

Florida operates the canonical dual federal/state US money-transmitter-licensing model; HB 505 (2026) extends this perimeter via a new OFR registration track for virtual-currency-kiosk operators not otherwise licensed as money transmitters.

### United States – Georgia

US-GA Confirmed 22 sourced findings

Georgia money transmission licensing is unchanged in structure, but DBF enforcement activity against unlicensed/non-compliant virtual-currency money-transmission businesses intensified in-window: a multistate Consent Order against Coinme (2026-10-07) and a… [Full module →](https://payments.gi/jurisdictions/united-states-georgia/#w1a-licensing-authorisation-market-access)

### United States – Hawaii

US-HI Confirmed 21 sourced findings

Hawaii's Money Transmitters Modernization Act (HRS Ch.489D) is administered by DCCA/DFI. Since 1 July 2024, standalone digital-asset activity has not required a Hawaii MT licence (regulator-interpretation-based, less durable than statutory exemptions… [Full module →](https://payments.gi/jurisdictions/united-states-hawaii/#w1a-licensing-authorisation-market-access)

### United States – Idaho

US-ID Confirmed 22 sourced findings

Virtual-currency kiosk/exchange activity in Idaho continues to be governed solely by the generic Idaho Money Transmitters Act (Idaho Code § 26-2901 et seq.), administered by the Securities Bureau, Idaho Department of Finance. A 2026 attempt to layer… [Full module →](https://payments.gi/jurisdictions/united-states-idaho/#w1a-licensing-authorisation-market-access)

### United States – Illinois

US-IL Confirmed 19 sourced findings

Illinois replaced its Transmitters of Money Act (205 ILCS 657) with the Uniform Money Transmission Modernization Act (205 ILCS 658, P.A. 103-991) effective 2026-01-01, tightening surety-bond (electronic bonds now mandatory in NMLS), net-worth and… [Full module →](https://payments.gi/jurisdictions/united-states-illinois/#w1a-licensing-authorisation-market-access)

### United States – Indiana

US-IN Confirmed 26 sourced findings

Indiana's core payments licensing backbone remains the general Money Transmission Modernization Act (IC 28-8-4.1), administered by DFI; this cycle adds a statutory carve-out clarifying non-custodial digital-asset software is not money transmission, and HEA… [Full module →](https://payments.gi/jurisdictions/united-states-indiana/#w1a-licensing-authorisation-market-access)

### United States – Iowa

US-IA Confirmed 26 sourced findings

Iowa money-transmitter licensing (Iowa Code Ch. 533C) does not reach a national trust bank engaged in digital-asset custody activities, per OCC Interpretive Letter 1192 (2026-05-12), which held the National Bank Act preempts the state's licensing, examination… [Full module →](https://payments.gi/jurisdictions/united-states-iowa/#w1a-licensing-authorisation-market-access)

### United States – Kansas

US-KS Confirmed 23 sourced findings

Kansas money-transmission licensing now expressly reaches virtual-currency kiosk operators following enactment of the Virtual Currency Kiosk Consumer Protection Act (HB 2591), in force 2026-07-01, administered by OSBC via NMLS.

### United States – Kentucky

US-KY Confirmed 23 sourced findings

Kentucky regulates money transmission and virtual-currency transmission under the Kentucky Money Transmitters Act (KRS 286.11); a new standalone licensing subtitle for virtual-currency kiosk operators (SB 189, new KRS 286 Subtitle 13) was enacted April 13… [Full module →](https://payments.gi/jurisdictions/united-states-kentucky/#w1a-licensing-authorisation-market-access)

### United States – Louisiana

US-LA Confirmed 20 sourced findings

Louisiana replaced its 1966 Sale of Checks and Money Transmission Act with the Louisiana Money Transmission Act (Act 888/HB1230), effective July 1, 2026, modernizing licensing via NMLS, adding quarterly call reports, annual audited financials, and 5-year… [Full module →](https://payments.gi/jurisdictions/united-states-louisiana/#w1a-licensing-authorisation-market-access)

### United States – Maine

US-ME Confirmed 21 sourced findings

Maine money transmitters (including virtual-currency businesses) are licensed under 32 M.R.S. c.80 via the Money Transmission Modernization Act, administered by the BCCP through NMLS. All existing licensees must convert surety bonds to Electronic Surety Bonds… [Full module →](https://payments.gi/jurisdictions/united-states-maine/#w1a-licensing-authorisation-market-access)

### United States – Maryland

US-MD Confirmed 31 sourced findings

Maryland Money Transmission Act excludes a qualifying payor agent providing payroll-processing services from the statutory definition of money transmitter, per SB 261 (Ch. 21), effective 2026-10-01.

### United States – Massachusetts

US-MA Confirmed 21 sourced findings

Massachusetts completed its transition from a foreign-transmittal-only licensing regime to full domestic money-transmitter licensure under M.G.L. c.169B (effective 2026-01-01). The 2026-07-01 transition deadline has passed; the Division of Banks is actively… [Full module →](https://payments.gi/jurisdictions/united-states-massachusetts/#w1a-licensing-authorisation-market-access)

### United States – Michigan

US-MI Confirmed 21 sourced findings

Michigan money transmission (including virtual-currency transmission) remains licensed under the 2006 Money Transmission Services Act (MCL 487.1001-487.1047), administered by DIFS. HB 5544 (Money Transmission Modernization Act), which would repeal and replace… [Full module →](https://payments.gi/jurisdictions/united-states-michigan/#w1a-licensing-authorisation-market-access)

### United States – Minnesota

US-MN Confirmed 22 sourced findings

Minnesota regulates money transmission under the MTMA (Ch.53B, 2023). This cycle adds: (1) HF3709 bank/credit-union virtual-currency custody framework effective 2026-08-01 (60-day Commerce Commissioner notice, mandatory segregation); (2) statewide… [Full module →](https://payments.gi/jurisdictions/united-states-minnesota/#w1a-licensing-authorisation-market-access)

### United States – Mississippi

US-MS Confirmed 18 sourced findings

Mississippi brought virtual currency kiosk operators within the Money Transmission Modernization Act (MTMA, Miss. Code Ann. §75-16-1 et seq.) licensing perimeter and layered new authorized-delegate disclosure and data-security obligations onto all MTMA… [Full module →](https://payments.gi/jurisdictions/united-states-mississippi/#w1a-licensing-authorisation-market-access)

### United States – Missouri

US-MO Confirmed 22 sourced findings

Missouri repealed its legacy Sale of Checks Law and enacted the Money Transmission Modernization Act of 2024 (MTMA), effective August 28, 2024. Licensing runs through NMLS; licensees must maintain net worth >$100,000 and a surety bond. The GENIUS Act's… [Full module →](https://payments.gi/jurisdictions/united-states-missouri/#w1a-licensing-authorisation-market-access)

### United States – Montana

US-MT Confirmed 13 sourced findings

Montana is the sole US state that does not operate a state-level money transmitter licensing regime; DBFI licenses adjacent activities under Title 32 MCA; a brief 2023 informal solicitation attempt was withdrawn.

### United States – Nebraska

US-NE Confirmed 29 sourced findings

Nebraska regulates money transmission (including crypto exchange/custody and crypto-kiosk activity) under the Nebraska Money Transmitters Act, overhauled by LB474 (effective Oct 1, 2025), administered by NDBF. LB717 (effective July 18, 2026) added a… [Full module →](https://payments.gi/jurisdictions/united-states-nebraska/#w1a-licensing-authorisation-market-access)

### United States – Nevada

US-NV Confirmed 13 sourced findings

US-NV has no dedicated payments/EMI licensing regime; money transmission (including virtual-currency transmission) is licensed under NRS Chapter 671 by the Nevada Financial Institutions Division (NFID), which determines applicability case-by-case; a 2015 SB… [Full module →](https://payments.gi/jurisdictions/united-states-nevada/#w1a-licensing-authorisation-market-access)

### United States – New Hampshire

US-NH Confirmed 20 sourced findings

NH money transmission remains governed by RSA 399-G, administered by the NH Banking Department via NMLS. HB 1207 (signed 2026-07-10) amends RSA 399-G's fee, renewal and authorised-delegate certificate-of-authority provisions, with staggered effective dates of… [Full module →](https://payments.gi/jurisdictions/united-states-new-hampshire/#w1a-licensing-authorisation-market-access)

### United States – New Jersey

US-NJ Confirmed 17 sourced findings

New Jersey has no bespoke payments/EMI licence; payment-services and digital-asset businesses operate under the general Money Transmitters Act, with a pending Digital Asset and Blockchain Technology Act (A3454) that would carve out a distinct digital-asset… [Full module →](https://payments.gi/jurisdictions/united-states-new-jersey/#w1a-licensing-authorisation-market-access)

### United States – New Mexico

US-NM Confirmed 17 sourced findings

New Mexico operates a dual federal/state money-transmission regime under the Uniform Money Services Act (NMSA 1978 Section 58-32), administered by the Financial Institutions Division, with no state-specific EMI regime.

### United States – New York

US-NY Confirmed 16 sourced findings

New York is building a first-in-the-nation state BNPL licensing regime (Banking Law Article 14-B, implementing rule proposed as 3 NYCRR Part 423) alongside its existing BitLicense and limited-purpose trust charter pathways; the BNPL rule remains in the… [Full module →](https://payments.gi/jurisdictions/united-states-new-york/#w1a-licensing-authorisation-market-access)

### United States – North Carolina

US-NC Confirmed 18 sourced findings

NC's general money-transmitter licensing regime (Ch.53, Art.16B) has been extended via new Article 26 to cover virtual-currency kiosk operators, who must hold an MTA licence and submit to Commissioner of Banks examination/reporting/supervision effective Jan 1… [Full module →](https://payments.gi/jurisdictions/united-states-north-carolina/#w1a-licensing-authorisation-market-access)

### United States – North Dakota

US-ND Confirmed 17 sourced findings

NDDFI issued perpetual participation-prohibition orders against two named individuals (Trevino Trousdale, Ricks) from employment or affairs of any NDDFI-licensed bank, credit union, or financial institution, dated on or about 2026-10-16.

### United States – Ohio

US-OH Confirmed 23 sourced findings

Ohio has no bespoke crypto/payments licence; money-service businesses, including crypto-kiosk and exchange operators, are licensed under the general Ohio Money Transmitters Act (R.C. Chapter 1315) via the Division of Financial Institutions (DFI). House Bill… [Full module →](https://payments.gi/jurisdictions/united-states-ohio/#w1a-licensing-authorisation-market-access)

### United States – Oklahoma

US-OK Confirmed 27 sourced findings

Oklahoma is enacting a full recodification of its money-transmission licensing regime via the Money Transmission Modernization Act (HB 3521), which repeals the existing statute outright and recodifies at 6 O.S. §1551 et seq., effective November 1, 2026. The… [Full module →](https://payments.gi/jurisdictions/united-states-oklahoma/#w1a-licensing-authorisation-market-access)

### United States – Oregon

US-OR Confirmed 16 sourced findings

Oregon regulates money transmission (incl. virtual-currency businesses, prepaid instrument sale, and check cashing) under a single non-bank licensing regime -- the Oregon Money Transmitters Act (ORS Chapter 717) -- administered by the Division of Financial… [Full module →](https://payments.gi/jurisdictions/united-states-oregon/#w1a-licensing-authorisation-market-access)

### United States – Pennsylvania

US-PA Confirmed 24 sourced findings

Money transmission licensing under the Money Transmitter Act, as amended by Act 7 of 2025 (effective 2025-08-26), now covers both fiat money transmission and virtual-currency transmission for a fee.

### United States – Rhode Island

US-RI Confirmed 15 sourced findings

Rhode Island regulates payments licensing through a state money-transmitter regime (RI Gen. Laws Title 19, Ch. 19-14 and 19-14.3), supervised by the Division of Banking within the Dept. of Business Regulation (DBR). Currency transmission, electronic money… [Full module →](https://payments.gi/jurisdictions/united-states-rhode-island/#w1a-licensing-authorisation-market-access)

### United States – South Carolina

US-SC Confirmed 29 sourced findings

South Carolina continues to licence money transmission under Title 35 Ch. 11 (MTMA per 2024 Act No. 218); Act No. 208 (2026) exempts digital-asset mining, node operation, on-chain software development and non-fiat crypto-to-crypto exchange from the MTL… [Full module →](https://payments.gi/jurisdictions/united-states-south-carolina/#w1a-licensing-authorisation-market-access)

### United States – South Dakota

US-SD Confirmed 18 sourced findings

SD has no bespoke EMI/PI regime; nonbank payments and virtual-currency businesses operate under the general Money Transmission Act (SDCL 51A-17). SB98 (effective 2026-07-01) explicitly folds virtual-currency kiosk operators into this MTL framework with… [Full module →](https://payments.gi/jurisdictions/united-states-south-dakota/#w1a-licensing-authorisation-market-access)

### United States – Tennessee

US-TN Confirmed 14 sourced findings

Tennessee criminalises the installation and operation of virtual-currency kiosks statewide effective July 1, 2026 (Public Chapter 766), layered atop TDFI's existing policy excluding virtual currency from Money Transmitter Licence coverage.

### United States – Texas

US-TX Confirmed 22 sourced findings

Texas regulates money transmission — including stablecoin issuance — under Texas Finance Code Chapter 152 (the Money Services Modernization Act of 2023), administered by the Texas Department of Banking. Texas takes a crypto-receptive posture: ordinary… [Full module →](https://payments.gi/jurisdictions/united-states-texas/#w1a-licensing-authorisation-market-access)

### United States – Utah

US-UT Confirmed 18 sourced findings

Utah requires a state Money Transmitter licence (Title 7, Ch.25, DFI-administered, $300 fee, $50,000 minimum surety bond) for payment/MSB activity; HB 72 (eff. 2026-05-06) separately creates a DCP-administered registration/consumer-protection regime for… [Full module →](https://payments.gi/jurisdictions/united-states-utah/#w1a-licensing-authorisation-market-access)

### United States – Vermont

US-VT Confirmed 27 sourced findings

Vermont DFR regulates money transmission (incl. virtual-currency business activity) under 8 V.S.A. Chapter 79 and, from 2027-07-01, will separately license non-bank commercial financing providers (sales-based financing, factoring) under new 8 V.S.A. § 2247… [Full module →](https://payments.gi/jurisdictions/united-states-vermont/#w1a-licensing-authorisation-market-access)

### United States – Virginia

US-VA Confirmed 32 sourced findings

Virginia repealed its legacy money-transmitter statute (Title 6.2, Chapter 19) in full and replaced it, effective July 1, 2026, with Chapter 19.1, adopting the CSBS Money Transmission Modernization Act (MTMA) model. Net worth, surety bond… [Full module →](https://payments.gi/jurisdictions/united-states-virginia/#w1a-licensing-authorisation-market-access)

### United States – Washington

US-WA Confirmed 37 sourced findings

Washington licenses money transmitters (including virtual-currency transmitters) under the Uniform Money Services Act (RCW 19.230 / WAC 208-690), administered by DFI; a new Earned Wage Access Services Act licensing regime under DFI commenced July 1, 2026… [Full module →](https://payments.gi/jurisdictions/united-states-washington/#w1a-licensing-authorisation-market-access)

### United States – West Virginia

US-WV Confirmed 21 sourced findings

West Virginia regulates money transmission, including virtual-currency business activity, under the Money Transmission Act (W. Va. Code Ch. 32A), administered by the WV Division of Financial Institutions via NMLS. HB 5353 (2026, effective from passage… [Full module →](https://payments.gi/jurisdictions/united-states-west-virginia/#w1a-licensing-authorisation-market-access)

### United States – Wisconsin

US-WI Confirmed 17 sourced findings

Wisconsin regulates money transmission under Chapter 217 (Model Money Transmission Modernization Law), administered by DFI; AB471 (pending, referred to Assembly Committee on Financial Institutions) would carve digital-asset activities out of this licensing… [Full module →](https://payments.gi/jurisdictions/united-states-wisconsin/#w1a-licensing-authorisation-market-access)

### United States – Wyoming

US-WY Confirmed 26 sourced findings

Wyoming's crypto-adjacent payments/banking perimeter gains a new interstate-coordination layer: the Wyoming Division of Banking and NYDFS signed an MOU (Oct. 1, 2026) on coordinated licensing review, exams and enforcement for digital-asset firms operating in… [Full module →](https://payments.gi/jurisdictions/united-states-wyoming/#w1a-licensing-authorisation-market-access)

### Uruguay

UY Confirmed 12 sourced findings

Uruguay's BCU finalised comprehensive VASP authorisation Resolution SSF No. 2026-444 under Ley N° 20.345, with existing operators able to apply 1 Sept 2026-31 Mar 2027, and published a 2026-2030 Payments System Roadmap targeting Open Banking, ISO 20022, and… [Full module →](https://payments.gi/jurisdictions/uruguay/#w1a-licensing-authorisation-market-access)

### Venezuela

VE Probable 12 sourced findings

GL 56 (14 Apr 2026) broadens authorisation for US persons to negotiate contingent commercial contracts with the Government of Venezuela across all sectors, contingent on separate OFAC specific-licence authorisation before performance.

### Vietnam

VN Confirmed 11 sourced findings

SBV is sole licensing authority under Decree 52/2024 + Circular 40/2024; non-bank firms use the 10-year IPS licence; capital VND 50bn (wallet/gateway) / VND 300bn (switching/clearing); banks act as payment service providers; no passport regime.

### Zambia

ZM Confirmed 26 sourced findings

Zambia enacted the National Payment System Act, 2026 (repealing and replacing the National Payment Systems Act, Cap. 359 of 2007) and the Banking and Financial Services Act, 2026 (Act No. 9 of 2026, repealing the Money-lenders Act Cap. 398). Both consolidate… [Full module →](https://payments.gi/jurisdictions/zambia/#w1a-licensing-authorisation-market-access)

No jurisdiction matches those filters.