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Regulatory Authority and Legal Framework for PIs in Brazil The BCB supervises payment institutions within the Brazilian Payments System. The main activity categories include: Law No. 12,865/2013 forms the statutory foundation, alongside rules issued by the BCB and the National Monetary Council. In 2026, entrants should also consider BCB Resolutions No. 494 and No. 495,…

Types of Payment Service Licences in Singapore MAS recognises three main categories: the SPI permit, the MPI licence, and the Money-Changing Licence. Permit Main features SPI Covers regulated payment activities within statutory thresholds. MPI Covers regulated activities without the SPI transaction and e-money thresholds, subject to stricter financial criteria. Money-Changing Authorization Intended for firms dealing…

For regulatory background, see Eternity Law International’s guides to MiCA requirements, the VASP-to-CASP transition and crypto licensing in Europe. How to Choose a MiCA-Licensed Crypto Exchange: 8 Checks Use this eight-point review when deciding how to choose a MiCA licensed crypto exchange: read the account contract to identify your counterparty and then check its permissions…

PSP, SPI and EMI: Key Differences in the Czech Republic Each category has a different scope and set of conditions. Category Main purpose Key feature Payment Institution (PI) Providing authorized payment-related activities Full authorization and applicable own funds Small-scale Payment Service Provider Operating on a smaller scale Subject to statutory limits EMI Issuing e-money and…

Offshore Regulation and the Role of the FSA Offshore regulation gives an international broker a recognized legal base for its operations and can make work with banks, payment providers, platforms, and liquidity partners more straightforward.Still, regulator approval is only one part of the setup. Technology, internal controls, funding, payment flows, and client handling all need…

Regulatory Authority and Legal Framework for PIs in Cyprus PIs‍‍‍ are authorised and supervised by the CBC. The authorisation category is determined according to the business activity planned, examples of which are money remittance, execution of transfers, payment initiation, and provision of account information. In general, candidates are also expected to submit a set of…

The KNF is in charge of national payment businesses called KIP. These businesses might be eligible for a simpler form of authorization based on specific restrictions to the scope of their operations. It is important to know the main steps to get an authorization permit, estimate a time frame needed for its processing, and find…

In 2026, entrepreneurs can consider two routes: obtaining fresh authorisation or acquiring an existing entity with a PSP permit. Each option has different costs, preparation needs and legal considerations. Who Issues a PSP Licence in Mauritius? The BOM grants PSP licences and determines which payment-related functions require prior approval. The relevant permission depends on the…

The FMA oversees the authorisation of firms carrying out regulated payment-related activities. The main legal basis is the ZaDiG 2018, which has applied since 1 June 2018 and implements the EU’s PSD2. There is no single MSB authorisation covering every type of money-related activity. The correct route depends on what a firm intends to do,…

The AUSTRAC oversees these obligations. Depending on the activities involved, a firm may need to enrol with AUSTRAC, obtain approval for certain operations, and establish procedures for customer identification and suspicious transaction monitoring. Major AML/CTF reforms took effect on 31 March 2026, expanding the scope of covered cryptocurrency activities and updating existing obligations. Additional duties…

Two separate systems govern this area. FinCEN, a bureau of the U.S. Department of the Treasury, administers federal MSB registration and enforces applicable BSA requirements. State financial regulators separately oversee licensing requirements for money transmission and certain related activities. See our guides on MSB permit, ready-made entities, and offshore licensing. FinCEN MSB Registration vs. State…

Before entering the market, entrepreneurs should determine which federal rules apply to their planned operations. The term MSB permit in Canada is commonly used in online searches, although FINTRAC operates a registration system rather than issuing a separate permission. A business may also need to register with the Bank of Canada as a PSP under…