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Alchemy Pay recently received approval for an MTL (Money Transmitter License) in South Dakota, USA. This means that the payment service provider has now obtained MTL licenses in a total of 13 states across the United States.
An MTL license is an important credential for conducting fiat-to-crypto and crypto-to-fiat payment services. As regulatory pressures increase, more and more crypto companies are choosing to obtain licenses on a state-by-state basis to meet the different regulatory requirements across the US. The approval of the license in South Dakota further expands Alchemy Pay's compliance coverage in the US market, providing a more solid legal foundation for its fiat deposit and withdrawal services, as well as for bridging traditional finance and the crypto world.
For users, this gradual progress in compliance signifies that crypto payment services are evolving from a wild growth phase toward a more institutionalized and regulated framework.
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Getting licensed in each state, how long will that take... Compliance is truly a bottomless pit
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From wild growth to a formal army, it sounds great, but it really depends on whether it can be practically implemented
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South Dakota is back again. How many states does the US need to go through before it's all done?
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Basically, it's still a compromise on crypto payments, and regulatory agencies are gradually accepting it
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The bridge between fiat and crypto is set up, and the real test is just beginning
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Regulatory paving the way, it really feels like entering the era of formalization
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Another state down, Alchemy Pay is serious about doing things
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Speaking of running state by state like this, how much does it cost...
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More and more MTL licenses, indicating that this track is really upgrading
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From wild growth to formalization, it seems crypto payments are really maturing
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13 states, is full coverage still far away?
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This is the right path. Only when the compliance foundation is solid can we be at ease
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Another license, but if we keep doing it state by state like this, it'll be ages.
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The road to compliance is long, but at least we're doing the right thing.
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To be honest, it's all about survival. The regulatory costs in the US are so high that small projects can't play.
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Take it slow. Better than being banned.
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In this environment, having a license definitely helps you sleep better at night.
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South Dakota? When did this state become a focus? Seems like there aren't many users.
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The payment sector has to be done this way. No choice, US is so competitive.
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From wild growth to formal regulation, the cost is too high.
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13 states sounds like a lot, but there are actually 50 states in the US. Does this guy want to do another 37? That's nonsense.