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Telegraphs, Steamships, and Virtual Currency: An Analysis of Money Transmitter Regulation

Published Aug 20, 2020Updated Jun 20, 2025

The Congressional Research Service is a nonpartisan policy and legal analysis arm of the Library of Congress. CRS reports are written for members of Congress and their staff, not the public — but they’re made available openly through Congress.gov.

Telegraphs, Steamships, and Virtual Currency: An Analysis of Money Transmitter Regulation — Informed