Federal Trade Commission defines cryptocurrency as a type of digital currency that generally only exists electronically. In order to provide services of exchange and storage of the cryptocurrency two stages system is US is applicable:

​

• MSB License - money service business license, which can be obtained for all states in once;

​

• MTL or other license depending on the state - money transmitter or Bitlicense etc. is each state license that allows to operate in that state with MSB and state license together as crypto services provider.