Southeast · Last reviewed 2026-07
Delaware money transmitter license
Requirements, bond, timeline, and crypto notes for the Money Transmission / Virtual Currency Business Activity License (under SB 18 modernization) — for companies preparing an application or diligence questionnaire.
Key requirements
- License
- Money Transmission / Virtual Currency Business Activity License (under SB 18 modernization)
- Statute
- Delaware Money Transmission and Virtual Currency Modernization Act (SB 18, enacted ~June 2026), replacing 5 Del. C. ch. 23
- Surety bond
- MTMA-style security: typically the greater of a statutory floor or a percentage of outstanding obligations — verify Commissioner schedule under SB 18
- Net worth
- MTMA-style tangible net worth: typically the greater of $100,000 or asset-based tiers — verify under SB 18 implementing rules
- NMLS
- Required
- Application fee
- Verify the current schedule — SB 18 fee structure was still settling as of our last review
- Typical timeline
- 4–9 months (expect variability during implementation)
Crypto & virtual currency
Delaware enacted a major rewrite: SB 18, the Delaware Money Transmission and Virtual Currency Modernization Act (enacted around June 2026), replaces the legacy Sale of Checks and Transmission of Money statute (5 Del. C. ch. 23) with an MTMA-style framework that expressly covers virtual currency business activity. Implementation is the earlier of one year from enactment or the Commissioner's notice of final regulations, with transition windows for existing operators. Companies that previously relied on Delaware's case-by-case gray zone for crypto-only models should reassess immediately — incorporating in Delaware still does not create licensing obligations by itself, but serving Delaware customers under the new act likely will. Confirm transition deadlines with the Office of the State Bank Commissioner. Requirements change frequently — always verify current figures and interpretations directly with the state regulator before filing.
Frequently asked questions
What did Delaware SB 18 change?
SB 18 (enacted ~June 2026) replaces 5 Del. C. ch. 23 with a Money Transmission and Virtual Currency Modernization Act that expressly covers virtual currency business activity and adopts MTMA-style tangible net worth and bonding. Implementation is the earlier of one year from enactment or Commissioner notice of final regs, with transition windows for existing operators.
Does incorporating in Delaware mean I need a Delaware MTL?
No. Licensing obligations follow customers, not your state of incorporation. A Delaware C-corp serving only Texas residents needs to analyze Texas law, not Delaware's. You need the Delaware license if you engage in covered money transmission or virtual currency business activity for Delaware customers under SB 18.
I operated under the old Delaware statute. Am I grandfathered?
Do not assume so. SB 18 includes transition windows rather than permanent grandfathering. Confirm your filing deadline and any interim operating authority with the Office of the State Bank Commissioner as soon as possible.
What are Delaware's financial requirements under the new act?
Expect MTMA-style tangible net worth (typically the greater of $100,000 or asset tiers) and security scaled to outstanding obligations. Exact schedules were still settling under implementing rules as of our last review — verify with the Commissioner before budgeting.
This page is educational and does not constitute legal advice. Requirements change frequently — always verify current figures and interpretations directly with Delaware Office of the State Bank Commissioner before filing.