(1) Unless exempted, a person may not engage in, or in any manner advertise that they engage in, the activity of a payment instrument seller or money transmitter, for compensation, without first obtaining a license under this part. For purposes of this subsection, the term “compensation” includes profit or loss on the exchange of currency, monetary value, or virtual currency.
(2) A licensee under this part may also engage in the activities authorized under part III of this chapter without the imposition of any additional licensing fees.
