And would insurances insure this kind of business ? Now are bitcoin wallets banks ? and are they subject to the same regulations ?
Is that guy a US citizen ? can he be sued by his clients ?
Bitcoin is a relatively new thing, would not be surprised to start seeing bitcoin insurance for these types of services.
> Is that guy a US citizen ? can he be sued by his clients ?
I think it would depend if his clients have contracts, otherwise its a caveat emptor deal, especially when dealing with bitcoin.
(A large part of the Euro crisis was the Euro central bank refusing to backstop banks itself, delegating that to national central banks which can't print money and can therefore run out themselves)