Yup, look at California. 5K fee just for the chance to register. there are only about 25 companies registered for the entire state (google, square, western union).
You actually make it sound easy. So that everyone knows, it is not the Federal government that is the problem, it is in fact the states.
For an internet-based MSB that wants to service the entire US, said company must obtain 47 licenses. Taking a look at just one, California, the company needs $100k-$500k in net worth alone; audited financials, owner(s) financials, surety bond and more.
Now do that 46 more times.
This is why only about 10 companies nation-wide have achieved all 47 licenses; such as Amazon, PayPal, and Western Union.
http://www.aarongreenspan.com/writing/essay.html?id=86If you really want to understand this then watch this in full:
https://www.youtube.com/watch?v=gmiY35brih0Congress is really needed to resolve this issue.
The petition by FaceCash is here:
http://www.change.org/petitions/the-u-s-senate-reform-money-transmission-laws-to-allow-mobile-paymentsPayPal's licenses are listed here:
https://www.paypal-media.com/state_licenses.cfm