A pragmatic DFAL licensing timeline (without promising miracles)
Sequence MU drafts, fingerprints, bonding, and deep modules so reviewers see momentum instead of stalls.
Most delays trace back to MU2 friction — fingerprint channels, credit explanations, dual-license attestations — not statutory drafting.
Front-load entity graphs and beneficial ownership attestations before polishing consumer-facing disclosures.
Cadence snapshot
Week 0–2: finalize licensing pathway vs exemption posture with finance + counsel alignment.
Week 3–8: MU1 backbone + MU2 waves per control person; parallel cybersecurity evidence pulls.
Week 9+: kiosk/stablecoin annexes only after core AML/BSA + custody narratives stabilize.
Want this tracked inside CompliFi?
Import statutory rows, MU bundles, and deep modules mirror these narratives automatically once onboarding captures your activities.