On April 23, 2026, CSBS issued Money Transmission Modernization Act implementation guidance covering stablecoins and right-of-use leases. The guidance is meant to support consistent state treatment of tangible net worth, permissible investments, and surety bond calculations.
What changed
CSBS clarified how stablecoins and right-of-use lease assets should be handled under MTMA implementation, especially in tangible net worth calculations. This gives state money transmitter licensing programs and licensees a more uniform framework.
Compliance perspective
Money transmitters operating in MTMA states should revisit net worth calculations, financial statement treatment, and supporting schedules used in licensing and examinations. Firms dealing with stablecoins should pay close attention to how these assets are categorized across adopting states.
Key date
Effective date: April 23, 2026.
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