In preparing D&O and E&O policies and crime/fidelity coverages, underwriters may seek to inquire whether insureds intend to hold cryptocurrency on their balance sheets and the precise storage methods being considered. (Photo: vit_mar/Adobe Stock)
As of May 26, 2021, the estimated market capitalization of the cryptocurrency market exceeded $1.7 trillion despite recent market fluctuations. There is growing interest by a wide range of publicly-traded companies in incorporating crypto into their business models given the ongoing market development. For example, NVIDIA is manufacturing specialized computer processors designed for mining cryptocurrency. Samsung has developed its own Samsung Blockchain Wallet to facilitate the management of crypto asset holdings on Samsung mobile devices.
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