NE LB1063

Prohibits money transmitter licenses from being issued to "foreign adversary persons," defined as entities domiciled in, headquartered in, or organized under the laws of countries listed in 15 C.F.R. 791.4 (China, Cuba, Iran, North Korea, Russia, and Venezuela's Maduro Regime), or entities with 25% or greater ownership by such foreign persons

Requires license applicants to certify they are not foreign adversary persons and that no key individuals or persons in control are foreign adversary persons, with sufficient information for the Director of Banking and Finance to verify

Creates a rebuttable presumption against licensing for any applicant, licensee, or authorized delegate connected to a foreign adversary, which can only be overcome by clear and convincing evidence including express exemption from data-sharing obligations and quarterly compliance audits by U.S.-based auditors

Applies to all existing and future licenses upon effective date; Director must send written requests to current licensees within 60 days and initiate license revocation proceedings for non-compliance within 60 days of that request

Adds definition of "informal value transfer system services" (including hawala systems) to regulated money transmission activities