Great service but I think not being registered with the state of North Carolina as a MSB is going to cost you your business and investments. The Gov is no longer watching to see if people will comply they are forcing people to comply. Paypal had the same problems when they first started and had to go state by state to get the MSB, green dot when through the same process.
Next time CoinRNR is in a gas station in NC I suggest he looks at the door and see that they even had to register with NC as a MSB just to sell green dot and other stored value.
The Federal MSB does not protect you from each state, you are in violation of each state that requires MSB if you accept payments from the customers in that state. So you could be charged by each state you accept payments as being a unlicensed MSB/MT
http://www.fincen.gov/financial_institutions/msb/pdf/msbstatecontactsfinal.pdfNorth Carolina listings of money transmitters
https://www.nccob.org/Online/MTS/MTSCompanyListing.aspxWhat you need to be a Money Service Transmitter in NC
https://www.nccob.org/Online/MTS/MTSCompanyListing.aspx53-208.5. License qualifications.
(a) Each licensee shall have at all times a net worth of not less than one hundred thousand dollars ($100,000) calculated in accordance with generally accepted accounting principles. Licensees engaging in money transmission at more than one location or through authorized delegates shall have an additional net worth of ten thousand dollars ($10,000) per location in this State, as applicable, to a maximum of five hundred thousand dollars ($500,000). Licensees with neither locations nor authorized delegates in this State shall have an additional net worth as established by the Commissioner in an amount not to exceed a maximum of five hundred thousand dollars ($500,000).
Great business, Great idea, legal suicide......