Cryptocurrency is a digital or virtual asset that relies on cryptography to verify and secure transactions. Most cryptocurrencies have no central regulatory authority (i.e., the federal government), but rather run on decentralized systems through the use of blockchain technology to record transactions and assign new “tokens.” While blockchains provide a high sense of security and self-regulation, they are not risk-free. The insurance market has been slow to enter the cryptocurrency world, but some insurers have, and others are starting to explore this new terrain. In this blog, we provide a short overview of what you should know about cryptocurrency insurance in order to decide whether it’s right for you and/or your company.

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