Idaho residents can now buy, sell and trade cryptocurrencies through Binance.US. Idaho states that any crypto exchange offering fiat and digital asset exchange services must obtain a money transfer license.
License applicants must provide two years of financial statements, demonstrate a minimum net worth of at least $50,000, and issue a guaranteed bond of at least $10,000 to the Idaho Treasury Department.
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In May, the Idaho legislature passed the Digital Assets Act, which classifies cryptocurrencies as personal property. Binance.US currently provides services in 46 states in the United States.
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