Washington State Law

“Washington state law, RCW 19.310.040,
requires an exchange facilitator to either maintain a fidelity bond in
an amount of not less than one million dollars that protects clients
against losses caused by criminal acts of the exchange facilitator, or
to hold all client funds in a qualified escrow account or qualified
trust that requires your consent for withdrawals. All exchange funds
must be deposited in a separately identified account using your
taxpayer identification number. You must receive written notification
of how your exchange funds have been deposited. Your exchange
facilitator is required to provide you with written directions of how
to independently verify the deposit of the exchange funds. Exchange
facilitation services are not regulated by any agency of the state of
Washington or of the United States government. It is your
responsibility to determine that your exchange funds will be held in a
safe manner.”