Minnesotan banks and credit unions set to provide crypto custody Aug. 1
CoinDesk
Minnesota will allow state-chartered banks and credit unions to provide cryptocurrency custody services starting August 1.Summary
Governor Tim Walz has signed legislation allowing Minnesota-chartered banks and credit unions to offer cryptocurrency custody services beginning August 1. The law establishes a regulatory framework that requires institutions to implement robust cybersecurity and risk management protocols, while ensuring customer assets remain legally separated from the bank's own property. This initiative aims to protect consumers from losing access to their digital assets while simultaneously modernizing the state's financial offerings.
(Source：CoinDesk)