[tptacek]

IIRC money transfers are regulated as banking activities, not interstate commerce.

Every US state seems to have a variant of these rules; for instance, here's every license Paypal needs to operate:

https://www.paypal-media.com/state_licenses.cfm

[sophacles]

This makes a certain amount of sense. If I, as a resident of Illinois, purchase a coffee from my locally owned and operated shop, we could suddenly get around in state regulations just by processing the payment via a medium that includes a different state, e.g. square, or writing a check from a bank with branches not in IL.