If you are looking to understand how to protect your assets, make sure to learn about some of the currency laws by state. Some states will require you to be registered with them as a money transmitter while others will not, however, many states will require you to have an exemption in order to operate an unregistered account or conduct transactions online or from one internet site to another. This can be a big mistake if you don’t know that you are allowed or not.
Even though it is possible to get away with just working in a non-registered state, there is always a good chance that they will eventually start to take action on you. You should find out as much as you can about the laws in the state where you live. You might want to consult with a lawyer who is familiar with these types of matters or check online for some information. Either way, if you are looking to protect your assets then this is a really important step that you shouldn’t take lightly.
You will need to obtain a money transmitter license in most states as well as get the appropriate education or training before you are allowed to work in that state. This training may include working for a broker and/or becoming familiar with the currency markets and what your local regulations are. It is always a good idea to be fully aware of everything before you begin your education. This will help you stay ahead of the curve and keep yourself and your family protected. If you are not sure what kind of education you need then you will want to consult with a financial consultant and see if they have any recommendations.