How long is the settlement of funds from the time payment is made to the time funds are delivered to the business? What details are transferred to the business besides the funds? How can the business tie the charge to a transaction? Which Crypto currencies do you support? Are there any limits on the size of a transaction that you will convert? Do you perform an annual SAS 70 audit or any equivalent audit that suggests your process is safe and secure? Is there an industry standard audit to validate security? Are there any tax benefits for the crypto user of having an exchange service integrated with the state that you are aware of? Do you assume any liabilities in the transaction in terms of exchange rate risk, settlement risk, or liquidity risk? Have you integrated with any other governmental entities to enable payment of taxes with crypto currencies? Can you assure us that once a transaction processes through your exchange that the tax payment will be made in full, or are there some transaction risks that may require a second transaction to pay in full? Do you perform any due diligence on your exchange customers to verify their identity or the source of their funds? How can assurance be provided that exchange customer number ‘one’ does not try to use exchange customer number ‘two’s’ digital funds to make a payment for an obligation? What range of risk does a 'digital user asset'* introduce for a government organization that accepts such funds? What national or other regulatory environment exists that a state should consider before accepting 'digital user assets'*? (*"Digital user asset" means a digital asset that is used or bought primarily for consumptive, personal, or household purposes. "Digital user asset" includes an open blockchain token. "Digital user asset" does not include a digital security. "Digital security" means a digital asset which constitutes a security, as that term is defined in Utah Code Section 70A-8-101). How does converting cryptocurrency work? (Users can trade between two cryptocurrencies directly. For example: exchanging Ethereum with Bitcoin, or vice versa). How is Bitcoin or Ethereum converted into U.S. dollars for payment of government services or government debt? What are the typical types of fees for Digital Currency Conversions? Are the fees typically born by users/owners, a receiving institution, or some other type of organization? How might a cryptocurrency vendor handle market anomalies, such as flash crashes? Can a government restrict transfers/conversions to 'within U.S. initiated locations'? Or are cross-border transfers allowed? If so, what additional risks might exist for cross-border transfers? Should this be a consideration by a State government for accepting payment? For tax payments, what type of account identification (preferably not SSN) can be required to make sure that the payment can be posted to the correct taxpayers account and filing period?
