Midwest · Last reviewed 2026-07
North Dakota money transmitter license
Requirements, bond, timeline, and crypto notes for the Money Transmitter License — for companies preparing an application or diligence questionnaire.
Key requirements
- License
- Money Transmitter License
- Statute
- North Dakota Money Transmitters Act, N.D.C.C. ch. 13-09.1 (MTMA)
- Surety bond
- Typically $100,000–$500,000 depending on volume
- Net worth
- MTMA-style tangible net worth scaled to volume; verify current tiers
- NMLS
- Required
- Application fee
- Roughly $1,000–$2,000 plus NMLS fees, as of our last review
- Typical timeline
- 4–7 months
Crypto & virtual currency
North Dakota adopted an MTMA-based money transmitters framework under N.D.C.C. chapter 13-09.1. Bonds typically run $100,000–$500,000, with tangible net worth on the MTMA scale. Virtual currency treatment follows the enacted MTMA definitions and Department interpretation — fiat-touching activity is clearly licensable; crypto-only models should be confirmed in writing. North Dakota is a smaller market with a process-driven licensing shop; complete NMLS packages move relatively quickly. Requirements change frequently — always verify current figures and interpretations directly with the state regulator before filing.
Frequently asked questions
Does North Dakota require a license for crypto activity?
Fiat-touching activity requires the license under N.D.C.C. ch. 13-09.1. Crypto-only treatment turns on the enacted MTMA definitions and Department interpretation — seek a written determination rather than assuming exemption.
What are North Dakota's financial requirements?
As of our last review: bonds typically $100,000–$500,000 and MTMA-style tangible net worth scaled to transmission volume. Verify current tiers with the Department of Financial Institutions.
How long does North Dakota licensing take?
Typically 4–7 months for a complete application through NMLS. North Dakota's licensing unit is small but process-driven; a complete first submission shortens the cycle.
This page is educational and does not constitute legal advice. Requirements change frequently — always verify current figures and interpretations directly with North Dakota Department of Financial Institutions before filing.