Texas says state-backed banks can offer custody services for bitcoin as long as they have the proper …

texas says state backed banks can offer custody services for bitcoin as long as they have the proper tools to manage risk

Sumary of Texas says state-backed banks can offer custody services for bitcoin as long as they have the proper tools to manage risk:

  • The Texas Department of Banking greenlighted state-chartered banks to custody crypto assets in a notice on Thursday..
  • The Texas Department of Banking greenlighted state-chartered banks to offer custody for crypto assets in a notice on Thursday..
  • The notice affirms that banks may provide customers with virtual currency custody services as long as the bank has “adequate protocols in place to effectively manage the risks and comply with applicable law.”.
  • TOP VIDEOS FOR YOU The US’s national banking regulator made a similar announcement last year, saying that national banks and federal savings associations can provide crypto custody as an interpretation of existing law..
  • The Texas banking department noted that the custody services a bank chooses to offer will hinge on the bank’s expertise, risk appetite, and business model….

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