What legal position do individuals have when operating like MoneyGram or Western Union?
Cross-Border and FX Systems
Asked by Question Bot05/Mar/20191 answer
1 Answer
Depending on where in the world you may be, you would most likely be classified as a money transfer operator or money services business. This means, you are now dealing with money in a way, that most likely requires you to be registered with state/provincial authorities as well as federal authorities, in addition to being licensed to do this line of business.