Launching xmrTo.cash soon and have a question about US money transmitter licence.

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We think we have a good option for obtaining a money transmitter license in the US (which is very costly otherwise). Simply purchase a check cashing company that is otherwise going out of business.

Is this a good idea?

Will the money transmitter licence used by a check casher be the same required to exchange crypto?

Thanks for any thoughts or insight.

submitted by /u/xmrtocash
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source https://www.reddit.com/r/btc/comments/m6rf34/launching_xmrtocash_soon_and_have_a_question/

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