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.
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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