(1) Unless exempted, a person may not engage in, or in any manner advertise that they engage in, the activity of a payment instrument seller or money transmitter, for compensation, without first obtaining a license under this part. For purposes of this subsection, the term “compensation” includes profit or loss on the exchange of currency, monetary value, or virtual currency.
(2) A licensee under this part may also engage in the activities authorized under part III of this chapter without the imposition of any additional licensing fees.
History.—s. 2, ch. 94-238; s. 2, ch. 94-354; s. 6, ch. 2001-119; s. 30, ch. 2008-177; s. 5, ch. 2022-113.
Structure Florida Statutes
Title XXXIII - Regulation of Trade, Commerce, Investments, and Solicitations
Chapter 560 - Money Services Businesses
Part II - Payment Instruments and Funds Transmission (Ss. 560.203-560.213)
560.203 - Exemptions from licensure.
560.205 - Additional license application requirements.
560.208 - Conduct of business.
560.2085 - Authorized vendors.
560.209 - Net worth; corporate surety bond; collateral deposit in lieu of bond.
560.210 - Permissible investments.