1560.103 Definitions.—As used in this chapter, the term:
(1) “Affiliated party” means a control person, employee, or foreign affiliate of a money services business, or a person who has a controlling interest in a money services business as provided in s. 560.127.
(2) “Appropriate regulator” means a state, federal, or foreign agency that has been granted authority to enforce state, federal, or foreign laws related to a money services business or deferred presentment provider.
(3) “Authorized vendor” means a person designated by a money services business licensed under part II of this chapter to act on behalf of the licensee at locations in this state pursuant to a written contract with the licensee.
(4) “Branch office” means the physical location, other than the principal place of business, of a money services business operated by a licensee under this chapter.
(5) “Cashing” means providing currency for payment instruments except for travelers checks.
(6) “Check casher” means a person who sells currency in exchange for payment instruments received, except travelers checks.
(7) “Commission” means the Financial Services Commission.
(8) “Compliance officer” means the individual in charge of overseeing, managing, and ensuring that a money services business is in compliance with all state and federal laws and rules relating to money services businesses, as applicable, including all money laundering laws and rules.
(9) “Conductor” means a natural person who presents himself or herself to a licensee for purposes of cashing a payment instrument.
(10) “Control person” means, with respect to a money services business, any of the following:
(a) A person who holds the title of president, treasurer, chief executive officer, chief financial officer, chief operations officer, chief legal officer, or compliance officer for a money services business.
(b) A person who holds any of the officer, general partner, manager, or managing member positions named in the money services business’s governing documents. As used in this paragraph, the term “governing documents” includes bylaws, articles of incorporation or organization, partnership agreements, shareholder agreements, and management or operating agreements.
(c) A director of the money services business’s board of directors.
(d) A shareholder in whose name shares are registered in the records of a corporation for profit, whether incorporated under the laws of this state or organized under the laws of any other jurisdiction and existing in that legal form, who directly or indirectly has the power to vote 25 percent or more of a class of voting securities, or to sell or direct the sale of 25 percent or more of a class of voting securities.
(e) A general partner or a limited partner, as those terms are defined in s. 620.1102, who has a 25 percent or more transferable interest, as defined in s. 620.1102, of a limited partnership, limited liability limited partnership, foreign limited partnership, or foreign limited liability limited partnership, as those terms are defined in s. 620.1102.
(f) A member, who is a person that owns a membership interest in a limited liability company or a foreign limited liability company, as those terms are defined in s. 605.0102(36) and (26), respectively, that holds a 25 percent or more membership interest in such company. As used in this subsection, the term “membership interest” means a member’s right to receive distributions or other rights, such as voting rights or management rights, under the articles of organization.
(g) A natural person who indirectly owns 25 percent or more of the shares or stock interest, transferable interest as defined in s. 620.1102, or membership interest as defined in paragraph (f), of any legal entities referred to in paragraphs (d)-(f).
(11) “Corporate payment instrument” means a payment instrument on which the payee named on the instrument’s face is other than a natural person.
(12) “Currency” means the coin and paper money of the United States or of any other country which is designated as legal tender and which circulates and is customarily used and accepted as a medium of exchange in the country of issuance. Currency includes United States silver certificates, United States notes, and Federal Reserve notes. Currency also includes official foreign bank notes that are customarily used and accepted as a medium of exchange in a foreign country.
(13) “Deferred presentment provider” means a person who is licensed under part II or part III of this chapter and has filed a declaration of intent with the office to engage in deferred presentment transactions as provided under part IV of this chapter.
(14) “Department” means the Department of Financial Services.
(15) “Electronic instrument” means a card, tangible object, or other form of electronic payment used for the transmission, payment, or exchange of currency or monetary value, including a stored value card or device that contains a microprocessor chip, magnetic stripe, or other means for storing information; that is prefunded; and for which the value is decremented upon each use.
(16) “Financial audit report” means a report prepared in connection with a financial audit that is conducted in accordance with generally accepted auditing standards prescribed by the American Institute of Certified Public Accountants by a certified public accountant licensed to do business in the United States, and which must include:
(a) Financial statements, including notes related to the financial statements and required supplementary information, prepared in conformity with accounting principles generally accepted in the United States. The notes must, at a minimum, include detailed disclosures regarding receivables that are greater than 90 days, if the total amount of such receivables represents more than 2 percent of the licensee’s total assets.
(b) An expression of opinion regarding whether the financial statements are presented in conformity with accounting principles generally accepted in the United States, or an assertion to the effect that such an opinion cannot be expressed and the reasons.
(17) “Foreign affiliate” means a person located outside this state who has been designated by a licensee to make payments on behalf of the licensee to persons who reside outside this state. The term also includes a person located outside of this state for whom the licensee has been designated to make payments in this state.
1(18) “Foreign currency exchanger” means a person who exchanges, for compensation, currency of the United States or a foreign government to currency of another government.
(19) “Fraudulent identification paraphernalia” means all equipment, products, or materials of any kind that are used, intended for use, or designed for use in the misrepresentation of a customer’s identity. The term includes, but is not limited to:
(a) A signature stamp, thumbprint stamp, or other tool or device used to forge a customer’s personal identification information.
(b) An original of any type of personal identification listed in s. 560.310(2)(b) which is blank, stolen, or unlawfully issued.
(c) A blank, forged, fictitious, or counterfeit instrument in the similitude of any type of personal identification listed in s. 560.310(2)(b) which would in context lead a reasonably prudent person to believe that such instrument is an authentic original of such personal identification.
(d) Counterfeit, fictitious, or fabricated information in the similitude of a customer’s personal identification information that, although not authentic, would in context lead a reasonably prudent person to credit its authenticity.
(20) “Licensee” means a person licensed under this chapter.
(21) “Location” means a branch office, mobile location, or location of an authorized vendor whose business activity is regulated under this chapter.
(22) “Monetary value” means a medium of exchange, other than virtual currency, regardless of whether it is redeemable in currency.
(23) “Money services business” means any person located in or doing business in this state, from this state, or into this state from locations outside this state or country who acts as a payment instrument seller, foreign currency exchanger, check casher, or money transmitter.
1(24) “Money transmitter” means a corporation, limited liability company, limited liability partnership, or foreign entity qualified to do business in this state which receives currency, monetary value, a payment instrument, or virtual currency for the purpose of acting as an intermediary to transmit currency, monetary value, a payment instrument, or virtual currency from one person to another location or person by any means, including transmission by wire, facsimile, electronic transfer, courier, the Internet, or through bill payment services or other businesses that facilitate such transfer within this country, or to or from this country. The term includes only an intermediary that has the ability to unilaterally execute or indefinitely prevent a transaction.
(25) “Net worth” means assets minus liabilities, determined in accordance with United States generally accepted accounting principles.
(26) “Office” means the Office of Financial Regulation of the commission.
(27) “Outstanding money transmission” means a money transmission to a designated recipient or a refund to a sender that has not been completed.
(28) “Outstanding payment instrument” means an unpaid payment instrument whose sale has been reported to a licensee.
(29) “Payment instrument” means a check, draft, warrant, money order, travelers check, electronic instrument, or other instrument used for the transmission, exchange, or payment of currency or monetary value, regardless of whether it is negotiable. The term does not include an instrument that is redeemable by the issuer in merchandise or service, a credit card voucher, or a letter of credit.
(30) “Payment instrument seller” means a corporation, limited liability company, limited liability partnership, or foreign entity qualified to do business in this state which sells a payment instrument.
(31) “Person” means an individual, partnership, association, trust, corporation, limited liability company, or other group, however organized, but does not include a public agency or instrumentality thereof.
(32) “Personal identification information” means a customer’s name that, alone or together with any of the following information, may be used to identify that specific customer:
(a) Customer’s signature.
(b) Photograph, digital image, or other likeness of the customer.
(c) Unique biometric data, such as the customer’s thumbprint or fingerprint, voice print, retina or iris image, or other unique physical representation of the customer.
(33) “Publicly traded” means a stock is currently traded on a national securities exchange registered with the Securities and Exchange Commission, or traded on an exchange in a country other than the United States regulated by a regulator equivalent to the Securities and Exchange Commission and the disclosure and reporting requirements of such regulator are substantially similar to those of the Securities and Exchange Commission.
(34) “Sells” means to sell, issue, provide, or deliver.
(35) “Stored value” means currency or monetary value represented in digital electronic format, regardless of whether it is specially encrypted, and stored or capable of storage on electronic media in such a way as to be retrievable and transferred electronically.
(36) “Virtual currency” means a medium of exchange in electronic or digital format that is not currency. The term does not include a medium of exchange in electronic or digital format that is:
(a) Issued by or on behalf of a publisher and used solely within an online game, game platform, or family of games sold by the same publisher or offered on the same game platform; or
(b) Used exclusively as part of a consumer affinity or rewards program and can be applied solely as payment for purchases with the issuer or other designated merchants but cannot be converted into or redeemed for currency or another medium of exchange.
A. Section 4, ch. 2025-100, added subsections (13), (21), and (37), and amended and redesignated subsections (18) and (24) as (19) and (26), respectively, “[e]ffective July 1, 2026, upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of [ch. 2025-100].” Section 18(1), ch. 2025-100, provides that “[t]o avoid this act taking effect before the required rules have been adopted and ratified, this act shall stand repealed on June 30, 2026, unless reviewed and saved from repeal through reenactment by the Legislature after ratification of the required rules.” Contingent upon ratification, subsections (13), (19), (21), (26), and (37), will read:
(13) “Custodian of gold coin or silver coin” or “custodian” means any person or entity providing secure vault facilities to one or more persons for the safekeeping and storage of gold coin or silver coin, the ownership of which is or may be transferred electronically as defined in s. 215.986(1). The term includes any person who holds gold coin or silver coin for more than 10 days. The term does not include a person who holds gold coin or silver coin for personal use as legal tender.
* * * * *
(19) “Foreign currency exchanger” means a person who exchanges, for compensation, currency of the United States or a foreign government, gold coin, or silver coin to currency of another government.
* * * * *
(21) “Gold coin” has the same meaning as in s. 215.986(1)(c).
* * * * *
(26) “Money transmitter” means a corporation, limited liability company, limited liability partnership, or foreign entity qualified to do business in this state which:
(a) Receives currency, monetary value, a payment instrument, gold coin, silver coin, or virtual currency for the purpose of acting as an intermediary to transmit currency, monetary value, a payment instrument, gold coin, silver coin, or virtual currency from one person to another location or person by any means, including transmission by wire, facsimile, electronic transfer, courier, the Internet, or through bill payment services or other businesses that facilitate such transfer within this country, or to or from this country. The term includes only an intermediary that has the ability to unilaterally execute or indefinitely prevent a transaction; or
(b) Acts as a custodian of gold coin or silver coin.
* * * * *
(37) “Silver coin” has the same meaning as in s. 215.986(1)(f).
“(1) The Chief Financial Officer shall adopt rules to implement s. 280.21, Florida Statutes, as created by this act. The Financial Services Commission shall adopt rules to implement any provisions in chapter 560, Florida Statutes, or chapter 655, Florida Statutes, as created or amended by this act, including, but not limited to, ss. 560.155, 560.214, and 655.97, Florida Statutes. Such rules must be adopted by November 1, 2025, and submitted to the President of the Senate and Speaker of the House of Representatives on or before November 1, 2025, in the report specified in section 16. Such rules may not take effect until they are ratified by the Legislature. The Chief Financial Officer and the Financial Services Commission shall notify the Division of Law Revision upon legislative ratification of such rules.
“(2) This section is effective upon becoming a law solely for the purpose of adopting the rules required under this section, but such rules may not be implemented until such rules are ratified by the Legislature and until such time that the provisions for which the rules are adopted become law.”
...This Code sought to regulate the practices of the money transmitter industry, including check cashing. The Code's definition of "money transmitter" referred to "any person located in or doing business in this state who acts as a payment instrument seller, foreign currency exchanger, check casher, or funds transmitter." § 560.103(10), Fla. Stat (Supp.1994). The Code defined "check casher" as "a person who, for compensation, sells currency in exchange for payment instruments received, except travelers checks and foreign-drawn payment instruments." § 560.103(3). "Sell" was defined as "to sell, issue, provide, or deliver." § 560.103(19). A "payment instrument" meant "a check, draft, warrant, money order, travelers check or other instrument or payment of money, whether or not negotiable." § 560.103(14)....
...When the Money Transmitters' Code was enacted in 1994, it defined a "money transmitter" as "any person located in or doing business in this state who acts as a payment instrument seller, foreign currency exchanger, check casher, or *1209 funds transmitter." § 560.103(10), Fla. Stat. (Supp.1994) (emphasis added). The Code defined "check casher" as "a person who, for compensation, sells currency in exchange for payment instruments received, except travelers checks and foreign-drawn payment instruments." § 560.103(3) (emphasis added). The term "sell" was defined as "to sell, issue, provide, or deliver." § 560.103(19). A "payment instrument" meant "a check, draft, warrant, money order, travelers check or other instrument or payment of money, whether or not negotiable." § 560.103(14) (emphasis added)....
...ruments, except for travelers checks and foreign-drawn payment instruments." § 560.302(1). The Code's language explicitly provides, by the use of "in exchange for" and "for," that the check for cash transaction would be a contemporaneous one. See §§ 560.103(3), 560.302(1)....
Cited 9 times | Published | Florida 4th District Court of Appeal | 48 U.C.C. Rep. Serv. 2d (West) 800
...[3] Talcott did not cross-appeal the judge's ruling regarding the $5,700 check. [4] The definition of a "check" includes a "draft ... payable on demand and drawn on a bank...." § 673.1041(6), Fla. Stat. (2001). A "draft" is a negotiable instrument that is an order. § 673.1041(2) & (5), Fla. Stat. (2001). [5] Section 560.103(10), Florida Statutes (2001), defines "money transmitter" as including any person "located in or doing business in this state who acts as a ......
...me by
any means, including transmission by wire, facsimile, electronic transfer, courier, the Internet, or
through bill payment services or other businesses that facilitate such transfer within this country,
or to or from this country.” Fla. Stat. § 560.103(23).
28
Case: 14-14426 Date Filed: 11/04/2015 Page: 29 of 46
banning merchants from uttering the word surcharge, criminalizing speech that is
neither false nor misleading....
Cited 5 times | Published | Florida 4th District Court of Appeal | 2004 WL 1779079
...With the passage of the Code in 1994, the Legislature sought to regulate the practices of the money transmitter industry. See § 560.102, Fla. Stat. (Supp.1994). From the Code's inception, regulation of the check-cashing industry was contemplated within this scheme. See § 560.103(10), Fla....
...echnology, and in money transmitter practices." § 560.102(h), Fla. Stat. (Supp. 1994). In the pre-2001 version of the Code, the Legislature clearly defined the *674 activities in which check cashers and money transmitters are allowed to engage. See § 560.103(3), (10), Fla....
Cited 4 times | Published | Florida 3rd District Court of Appeal
...Both Espinoza and the State, as well as the amici, cite to various guidelines and regulations promulgated by the United States Department of the Treasury and other federal agencies to argue for or against the application of certain defined terms under section 560.103, Florida Statutes (2014), to virtual currency....
...hable as provided in s. 775.082, s. 775.083, or s. 775.084. *1063 (emphasis added). A "money services business" is defined as "any person ... who acts as a payment instrument seller , foreign currency exchanger, check casher, or money transmitter ." § 560.103(22), Fla....
...The Florida Legislature has defined a "payment instrument seller" in this section as "a corporation, limited liability company, limited liability partnership, or foreign entity qualified to do business in this state which sells a payment instrument." § 560.103(30). Moreover, a "payment instrument" is "a check, draft, warrant, money order, travelers check, electronic instrument, or other instrument, payment of money, or monetary value whether or not negotiable ." § 560.103(29) (emphasis added). "Monetary value" means a medium of exchange, whether or not redeemable in currency . § 560.103(21) (emphasis added)....
...mitting the same by any means, including transmission by wire, facsimile, electronic transfer, courier, the Internet, or through bill payment services or other businesses that facilitate such transfer within this country, or to or from this country. § 560.103(23) (emphasis added)....
...are written. We decline to do so. Espinoza is charged in Count 1 with engaging "in the business of money transmitter while not being registered as a money transmitter" in violation of section 560.125 governing money services businesses. Pursuant to section 560.103(22), a " 'money services business' means any person ... who acts as a payment instrument seller ...." We need not look beyond the plain and unambiguous language of section 560.103 to conclude Espinoza acted as a "payment instrument seller" when he transferred bitcoins from one of his online bitcoin wallets to Detective Arias' online bitcoin address in exchange for cash in U.S. dollars. There is no dispute that Bitcoin does not expressly fall under the definition of "currency" found in section 560.103(11). 3 However, *1064 Bitcoin does fall under the definition of a "payment instrument." See § 560.103(29). Included in the definition of a payment instrument is "monetary value," which is defined as "a medium of exchange, whether or not redeemable in currency." §§ 560.103 (21), (29). According to the arrest affidavit and the FATF Virtual Currency Report, referenced above, bitcoins are redeemable for currency. Espinoza does not argue to the contrary. Similarly, Bitcoin and bitcoins function as a "medium of exchange." See § 560.103(21)....
...As such, Bitcoin cannot be considered currency because it is not legal tender on the basis that the terms "money" and "monetary value" are considered synonymous with the term "currency." They are not. However, we need not consider legislative intent because section 560.103 is clear and unambiguous. Any assertion that "monetary value" is synonymous with "currency" overlooks the express language contained in section 560.103(21) which states that monetary value is "a medium of exchange, whether or not redeemable in currency." Espinoza's interpretation overlooks the "statutory tenet that courts should avoid readings that would render part of a statute meaningless." Koile v....
...State , 934 So.2d 1226 , 1233 (Fla. 2006) (citing Forsythe v. Longboat Key Beach Erosion Control Dist. , 604 So.2d 452 , 456 (Fla. 1992) ). In addition, Espinoza's interpretation, which we decline to adopt, compelling that "monetary value" be synonymous with "currency" would render section 560.103(21) meaningless....
...alify as a "money transmitter" because he did not receive *1065 currency, monetary value, or payment instruments for the purpose of transmitting the same to a third party. However, nothing contained within the definition of "money transmitter" under section 560.103(23) includes, explicitly or impliedly, the words "to a third party." The trial court reasoned that a "money transmitter" would necessarily operate like a middleman in a financial transaction, much like how Western Union accepts money from person A, and at the direction of person A, transmits it to person or entity B. Chapter 560 defines a "money services business" as "any person" who "acts as a ... money transmitter." § 560.103(22)....
..."Money transmitter" is then defined as an entity "which receives currency, monetary value, or payment instruments for the purpose of transmitting the same by any means , including transmission by wire, facsimile, electronic transfer, courier, the Internet, or through bill payment services." § 560.103(23) (emphasis added)....
...The statute's plain language clearly contains no third party transmission requirement in order for an individual's conduct to fall under the "money transmitter" definition. As such, we decline to add any third party or "middleman" requirement to the money transmitter definition found in section 560.103(23)....
...utes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means" (emphasis added) ). Thus, if our Legislature had intended the unambiguous language of section 560.103(23) to include the limiting words "to a third party," it would have included them....
...sent in the statute. Under its reading, the phrase "transmitting the same by any means" would require Espinoza to both receive and transmit the same form of currency, monetary value or payment instrument for a transaction to fall within the ambit of section 560.103(23)....
...Inasmuch, the ability of a customer to use a credit card, personal check, or cashier's check as a means of payment for the transfer of cash using the services of a Western Union-type money transmitting business would be impermissible under the trial court's reading of section 560.103(23)....
...Accordingly, the State charged Espinoza under the prior version of the statute. Espinoza did not cross-appeal the trial court's finding that his conduct involving Detective Arias and Bitcoin constituted a financial transaction within the ambit of Chapter 896, Florida's Money Laundering Act. Section 560.103(11) defines "currency" as: [T]he coin and paper money of the United States or of any other country which is designated as legal tender and which circulates and is customarily used and accepted as a medium of exchange in the country of issuance....
...part.” Fla. Stat. § 560.204 (1). 2 Violations of the Money Transmitter Statute are enforced by the Office of Financial Regulation of the Financial Services Commission. See generally Fla. Stat. §§ 560.105 , 560.113, 560.114; see also Fla. Stat. § 560.103 (7), (25) (definitions)....
Cited 1 times | Published | District Court, M.D. Florida
...t properly licensed are void and illegal. It does not. The enforcement of section 560.204 is delegated to the Office of Financial Regulation of the Financial Services Commission. See Fla. Stat. §§ 560105 , 560.113, 560.114; see also Fla. Stat. § '560.103 (defining “office” as the “Office of Financial Regulation” and “commission” as the “Financial Services Commission” for purposes of Chapter 560)....
...Section 881.28, Florida Statutes (2012), titled “Counterfeiting a payment instrument; possessing a counterfeit payment instrument; penalties,” provides as follows: (1) As used in this section, the term “counterfeit” means the manufacture of or arrangement to manufacture a payment instrument, 1 as defined in s. 560.103, without the permission of the financial institution, account holder, or organization whose name, routing number, or account number appears on the payment instrument, or the manufacture of any payment instrument with a fictitious name, routing number, or account number....
...t. The trial court correctly found the portion of section 831.28(2)(a) criminalizing the mere possession of a counterfeit payment instrument to be unconstitutional. AFFIRMED. TORPY, C.J., concurs. BERGER, J., concurs specially, with opinion. . Under section 560.103(29), Florida Statutes (2012), "payment instrument” means "a check, draft, warrant, money order, travelers check, electronic instrument, or other instrument, payment of money, or monetary value whether or not negotiable....
...Both Espinoza and the State, as well as the amici, cite to various guidelines and regulations promulgated by the United States Department of the Treasury and other federal agencies to argue for or against the application of certain defined terms under section 560.103, Florida Statutes (2014), to virtual currency....
...hable as provided in s. 775.082, s. 775.083, or s. 775.084. *1063 (emphasis added). A "money services business" is defined as "any person ... who acts as a payment instrument seller , foreign currency exchanger, check casher, or money transmitter ." § 560.103(22), Fla....
...The Florida Legislature has defined a "payment instrument seller" in this section as "a corporation, limited liability company, limited liability partnership, or foreign entity qualified to do business in this state which sells a payment instrument." § 560.103(30). Moreover, a "payment instrument" is "a check, draft, warrant, money order, travelers check, electronic instrument, or other instrument, payment of money, or monetary value whether or not negotiable ." § 560.103(29) (emphasis added). "Monetary value" means a medium of exchange, whether or not redeemable in currency . § 560.103(21) (emphasis added)....
...mitting the same by any means, including transmission by wire, facsimile, electronic transfer, courier, the Internet, or through bill payment services or other businesses that facilitate such transfer within this country, or to or from this country. § 560.103(23) (emphasis added)....
...are written. We decline to do so. Espinoza is charged in Count 1 with engaging "in the business of money transmitter while not being registered as a money transmitter" in violation of section 560.125 governing money services businesses. Pursuant to section 560.103(22), a " 'money services business' means any person ... who acts as a payment instrument seller ...." We need not look beyond the plain and unambiguous language of section 560.103 to conclude Espinoza acted as a "payment instrument seller" when he transferred bitcoins from one of his online bitcoin wallets to Detective Arias' online bitcoin address in exchange for cash in U.S. dollars. There is no dispute that Bitcoin does not expressly fall under the definition of "currency" found in section 560.103(11). 3 However, *1064 Bitcoin does fall under the definition of a "payment instrument." See § 560.103(29). Included in the definition of a payment instrument is "monetary value," which is defined as "a medium of exchange, whether or not redeemable in currency." §§ 560.103 (21), (29). According to the arrest affidavit and the FATF Virtual Currency Report, referenced above, bitcoins are redeemable for currency. Espinoza does not argue to the contrary. Similarly, Bitcoin and bitcoins function as a "medium of exchange." See § 560.103(21)....
...As such, Bitcoin cannot be considered currency because it is not legal tender on the basis that the terms "money" and "monetary value" are considered synonymous with the term "currency." They are not. However, we need not consider legislative intent because section 560.103 is clear and unambiguous. Any assertion that "monetary value" is synonymous with "currency" overlooks the express language contained in section 560.103(21) which states that monetary value is "a medium of exchange, whether or not redeemable in currency." Espinoza's interpretation overlooks the "statutory tenet that courts should avoid readings that would render part of a statute meaningless." Koile v....
...State , 934 So.2d 1226 , 1233 (Fla. 2006) (citing Forsythe v. Longboat Key Beach Erosion Control Dist. , 604 So.2d 452 , 456 (Fla. 1992) ). In addition, Espinoza's interpretation, which we decline to adopt, compelling that "monetary value" be synonymous with "currency" would render section 560.103(21) meaningless....
...alify as a "money transmitter" because he did not receive *1065 currency, monetary value, or payment instruments for the purpose of transmitting the same to a third party. However, nothing contained within the definition of "money transmitter" under section 560.103(23) includes, explicitly or impliedly, the words "to a third party." The trial court reasoned that a "money transmitter" would necessarily operate like a middleman in a financial transaction, much like how Western Union accepts money from person A, and at the direction of person A, transmits it to person or entity B. Chapter 560 defines a "money services business" as "any person" who "acts as a ... money transmitter." § 560.103(22)....
..."Money transmitter" is then defined as an entity "which receives currency, monetary value, or payment instruments for the purpose of transmitting the same by any means , including transmission by wire, facsimile, electronic transfer, courier, the Internet, or through bill payment services." § 560.103(23) (emphasis added)....
...The statute's plain language clearly contains no third party transmission requirement in order for an individual's conduct to fall under the "money transmitter" definition. As such, we decline to add any third party or "middleman" requirement to the money transmitter definition found in section 560.103(23)....
...utes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means" (emphasis added) ). Thus, if our Legislature had intended the unambiguous language of section 560.103(23) to include the limiting words "to a third party," it would have included them....
...sent in the statute. Under its reading, the phrase "transmitting the same by any means" would require Espinoza to both receive and transmit the same form of currency, monetary value or payment instrument for a transaction to fall within the ambit of section 560.103(23)....
...Inasmuch, the ability of a customer to use a credit card, personal check, or cashier's check as a means of payment for the transfer of cash using the services of a Western Union-type money transmitting business would be impermissible under the trial court's reading of section 560.103(23)....
...Accordingly, the State charged Espinoza under the prior version of the statute. Espinoza did not cross-appeal the trial court's finding that his conduct involving Detective Arias and Bitcoin constituted a financial transaction within the ambit of Chapter 896, Florida's Money Laundering Act. Section 560.103(11) defines "currency" as: [T]he coin and paper money of the United States or of any other country which is designated as legal tender and which circulates and is customarily used and accepted as a medium of exchange in the country of issuance....
...elers check or other instrument or payment of money, whether or not negotiable. Payment instrument does not include an instrument that is redeemable by the issuer in merchandise or service, a credit card voucher, or a letter of credit.” Fla. Stat. § 560.103 (14)....
This Florida statute resource is curated by Graham W. Syfert, Esq., a Jacksonville, Florida personal injury and workers' compensation attorney. For legal consultation, call 904-383-7448.
