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Hawaiian Lawmakers Introduce Bill That Would Allow Banks To Hold Cryptocurrencies
Summary: Hawaiian lawmakers have put forth a bill that would allow banks to provide custody for cryptocurrencies. Five senators from Hawaii proposed the bill, which if passed, would make it legal for banks in the region to hold cryptocurrencies on behalf of their customers. Hawaii is notoriously strict on cryptocurrency, as in 2017 Hawaii’s Division of ...
Hawaiian lawmakers have put forth a bill that would allow banks to provide custody for cryptocurrencies.
Five senators from Hawaii proposed the bill, which if passed, would make it legal for banks in the region to hold cryptocurrencies on behalf of their customers. Hawaii is notoriously strict on cryptocurrency, as in 2017 Hawaii’s Division of Financial Institutions started requiring crypto-licensed entities to hold cash reserves equal to their crypto holdings held on behalf of their customers. This law caused many cryptocurrency exchanges in the state to close, including Coinbase.
By Janelle Fox
Tags: Banks,Bill,Cryptocurrency,Custody,Hawaii,Lawmakers,senators
Link: Hawaiian Lawmakers Introduce Bill That Would Allow Banks To Hold Cryptocurrencies [Copy]
