@timcliff the money transmitter regulations are not only federal, but each state carries its own laws and registration requirements as well. Whe Inlooked into it for Bitcoin a few years back, I read to become certified in all 50 states cost something like $25 million. New York now requires a Bitlicense for any business transacting tin the state of New York and you will be subject to Know Your Client laws (similar to banks and other money transmitters/exchangers), plus have the FinCen requirement of filing Suspicious Activities Reports (SAR) for clients who exchange more than $10k either in a lump sum or in the aggregate. There is more, but that should give an idea of why so few businesses in the US exchange currency and even less exchange crypto.
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Thanks! Unfortunately the more I look into this, the more I am realizing it is probably not something I can do on a small scale working out of my house. I appreciate your input!