Section 560.204 - License required(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.s. 2, ch. 94-238; s. 2, ch. 94-354; s. 6, ch. 2001-119; s. 30, ch. 2008-177; s. 5, ch. 2022-113.Amended by 2022 Fla. Laws, ch. 113, s 5, eff. 1/1/2023.