Northeast · Last reviewed 2026-07
Vermont 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
- Vermont Money Transmitters Act, 8 V.S.A. ch. 79 (MTMA)
- Surety bond
- Typically $100,000 plus $10,000 per location, capped around $500,000
- Net worth
- MTMA-style tangible net worth scaled to volume; verify current tiers
- NMLS
- Required
- Application fee
- Approximately $2,100 plus NMLS fees, as of our last review
- Typical timeline
- 4–8 months
Crypto & virtual currency
Vermont adopted an MTMA-based money transmitters framework under 8 V.S.A. chapter 79. Bonds typically run $100,000 plus $10,000 per location (capped around $500,000), with fees around $2,100 as of our last review. Virtual currency treatment follows the enacted MTMA definitions and DFR interpretation — fiat-touching activity is clearly licensable; crypto-only models should be confirmed in writing. Vermont is a small market; many multistate applicants include it for completeness given moderate cost. Requirements change frequently — always verify current figures and interpretations directly with the state regulator before filing.
Frequently asked questions
Does Vermont require a license for crypto activity?
Fiat-touching activity requires the license under 8 V.S.A. ch. 79. Crypto-only treatment turns on the enacted MTMA definitions and DFR interpretation — seek a written determination rather than assuming exemption.
What are Vermont's financial requirements?
As of our last review: a bond typically of $100,000 plus $10,000 per location (capped around $500,000), MTMA-style net worth tiers, and application fees around $2,100. Verify current figures with DFR.
How long does Vermont licensing take?
Typically 4–8 months for a complete NMLS application. Vermont's licensing unit is small; complete first submissions move faster than those requiring multiple deficiency rounds.
This page is educational and does not constitute legal advice. Requirements change frequently — always verify current figures and interpretations directly with Vermont Department of Financial Regulation before filing.