Mo. Rev. Stat. § 361.903: Purpose.

Sections 361.900 to 361.1035 are designed to replace existing state money transmission laws currently codified in law and to:

(1) Ensure states may coordinate in all areas of regulation, licensing, and supervision to eliminate unnecessary regulatory burden and more effectively utilize regulator resources;

(2) Protect the public from financial crime;

(3) Standardize the types of activities that are subject to licensing or otherwise exempt from licensing; and

(4) Modernize safety and soundness requirements to ensure customer funds are protected in an environment that supports innovative and competitive business practices.