You're right, the surety bond system is fundamentally flawed. But it's $9 million more in security (in California, since different states have different bond re

You're right, the surety bond system is fundamentally flawed. But it's $9 million more in security (in California, since different states have different bond requirements) than Coinbase has. I've advocated for an FDIC-like system for money transmitters, run by CFPB or some other entity, for three years. Congress is hard to reach these days. http://www.thinkcomputer.com/corporate/whitepapers/heldhostage.pdf http://www.thinkcomputer.com/corporate/whitepapers/heldhosta... http://www.thinkcomputer.com/20140214.cfpbcomment.pdf http://www.thinkcomputer.com/20140214.cfpbcomment.pdf