diff --git a/README.md b/README.md
index 7b8fb585..251bee57 100644
--- a/README.md
+++ b/README.md
@@ -115,7 +115,7 @@ Below is a list of audit reports pertaining to the v4 program. Each entry enumer
 
 ## License
 
-The primary license for Squads Protocol v4 is the Business Source License 1.1 (`BUSL-1.1`), see [LICENSE](./LICENSE). The following exceptions are not licensed under the BULS-1.1, but are licensed separately as follows:
+The primary license for Squads Protocol v4 is the AGPL-3.0 license, see [LICENSE](./LICENSE). The following exceptions are licensed separately as follows:
 
 - The file <https://github.com/Squads-Protocol/v4/blob/main/programs/squads_multisig_program/src/utils/system.rs> is derived from code released under the [Apache 2.0 license](https://github.com/coral-xyz/anchor/blob/master/LICENSE) at <https://github.com/coral-xyz/anchor/blob/714d5248636493a3d1db1481f16052836ee59e94/lang/syn/src/codegen/accounts/constraints.rs#L1126-L1179>.
 - The file <https://github.com/Squads-Protocol/v4/blob/main/programs/squads_multisig_program/src/utils/small_vec.rs> is derived from code released under both the [Apache 2.0 license](https://github.com/near/borsh-rs/blob/master/LICENSE-APACHE) and the [MIT license](https://github.com/near/borsh-rs/blob/master/LICENSE-MIT) at <https://github.com/near/borsh-rs/blob/master/borsh/src/de/hint.rs> and <https://github.com/near/borsh-rs/blob/master/borsh/src/ser/mod.rs>.