Solely an agent. - A person
that is an MSB solely because that person serves as an agent of
another MSB is not required to register. However, a person that
is an MSB both because it engages in MSB activities on its own
behalf and as an agent of another MSB, must register.
Stored value. - A person
that is an MSB solely as an issuer, seller, or redeemer of stored
value is not required to register. However, a person that
is an MSB as an issuer, seller, or redeemer of stored value and
engages in MSB
activities (of a nature and value that cause the person to
be an MSB on a basis other than stored value) must register.
U.S. Postal Service.
Government Agencies. Agencies
of the United States, of any State, or of any political subdivision
of any State.