US Payments Regulation to Remain a Complex Field from Inconsistent State-Level Adoption of MTMA, Vixio Data Show

October 19, 2023

LONDON, October 19, 2023 – Payments regulation in the US is likely to remain complex for the foreseeable future as each state makes its own rules at its own pace, predicts Vixio Regulatory Intelligence, the provider of global regulatory and business intelligence to the global gambling and payments industries.

Findings stem from proprietary data generated by broadened coverage in the US following enhancements to Vixio's Horizon Scanning tool, which enables users to monitor and track global regulatory change in payments. The SaaS solution now covers all 50 states in the US, as well as the 14 territories under US federal government control.

Although the Model Money Transmission Modernization Act (MTMA) is gaining momentum with state regulators in the US, there is no consistent adoption of the Act. VIXIO's Horizon Scanning shows that:

  • 8 states have fully adopted the MTMA regulations
  • 27 states have either made no movement or are going in different directions
  • 10 states have had a partial adoption of the model law
  • 5 states also currently have additional pieces of MTMA-related legislation in their legislatures under consideration

Roseanne Spagnuolo, Vixio’s Chief Content Officer, said: “Our data show why the US is one of the payments industry’s most fragmented and heterogeneous regions from a regulatory standpoint. This makes it a complicated landscape in which to do business and to remain ahead of compliance obligations. It’s not just one jurisdiction - it’s 50 individual regulators that move at their own pace and regulate as they see fit.”

The increasing volume of regulatory change is making it harder and more time-consuming for payments companies to navigate. Vixio’s Horizon Scanning tool’s dashboard allows compliance teams to filter results, to assess regulatory impact by type and volume, and to build custom watchlists. Any analysis is exportable for reporting to key stakeholders.

Vixio analysts assess, analyze and filter out the noise to provide compliance teams with actionable insights. Separately, US State-by-State Market Entry Reports also offer a comprehensive overview of all 50 US states, providing information on the regulatory framework, requirements for a money transmitter licence and the authorization processes in each state. This further helps compliance teams make market-entry decisions and upskill on jurisdictions.

Vixio will be attending Money 20/20 conference in Las Vegas next week to demonstrate the capabilities of its Horizon Scanning solution following an upgrade that has lifted its coverage to more than 140 jurisdictions worldwide.

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Notes to Editors:


Headquartered in London and with offices in Washington DC, Vixio is a Regulatory Technology (RegTech) company, and a trusted source of independent, authoritative and actionable regulatory intelligence for compliance, regulatory, strategy and development professionals in payments and gambling industries that undergo rapid and radical change. Vixio delivers comprehensive, time-sensitive and actionable intelligence on payments and gambling compliance, covering more than 180 jurisdictions across the globe and organized by product or service type.

For further information about Vixio, please visit For media inquiries please contact To find out more about Horizon Scanning as part of the Vixio PaymentsCompliance solution, visit:

To arrange a meeting at Money 20/20, email, or visit stand 6455 on the exhibition floor to meet the team in person.

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