RATE Group | US States Have Begun Requiring Cryptocurrency Bonds
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US States Have Begun Requiring Cryptocurrency Bonds

17 Aug US States Have Begun Requiring Cryptocurrency Bonds

Posted at 20:02h in Cryptocurrency News by

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Four U.S. states are requiring surety bonds for cryptocurrency trading to protect investors.

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The popularity of digital currencies is prompting several US states to require companies engaged in cryptocurrency trading to secure surety bonds to enhance investor protection.

With a cryptocurrency surety bond, investors are given an extra layer of protection in case they become victims of fraud or scams. Under the rules set by these states, companies engaging in digital currency transmission should be backed by surety bonds, with the amount corresponding to the volume of transactions to protect the money transmitter clients.

“Cryptocurrencies have a lot of benefits that have become answered prayers for the adherents. One is the seamless and secure transaction that it provides,”

said Greg Rynerson of Surety Bond Authority.

“Eliminating identity theft is another. And since there are no third-parties involved, you don’t have to pay for any expensive fees, or wait days for…

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