Guam Money Transmitter License

Who regulates foreign exchange licenses in Guam? According to the Guam Finance and Taxation act, money transmitters operating in Guam are required to obtain a foreign exchange license with the Guam Department of Revenue and Taxation through the office of the Commissioner of Banking and Insurance for the territory of Guam. Who needs a foreign exchange license in Guam? No person shall engage in the business of selling foreign currency notes or engage in the business of receiving money for the purpose of transmitting the same or its equivalent to foreign countries without first obtaining a license from the Commissioner. ...