CryptocurrencyTexas State-Chartered Banks Can Custody Bitcoin

Texas State-Chartered Banks Can Custody Bitcoin

The Texas Department of Banking has released a notice affirming that state-chartered banks can offer bitcoin custody solutions to customers, so long as the bank has specific protocols in place to manage risk and comply with the law. The authority to provide these services already existed under the Texas Finance Code.

The notice states that banks can choose the specific custody and storage solutions they want to offer their customers depending on what best fits the bank’s expertise, risk appetite and business model. When it comes to custody solutions, the notice mentions two example scenarios.

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