Why Virginia Could Let Banks Offer Crypto Custodial Services
Per a report from TheStreet, Virginia will allow banks to offer crypto custody services. The state’s House of Delegates recently approved a banking bill last week to pass the legal framework to support the service. Related Reading | SEC’s Gary Gensler Crumbles When Asked If Ethereum Is A Security According to the report, the proposal […]
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A bill passed in the Virginian Senate allows banks to offer custodial services for bitcoin in either a fiduciary or non-fiduciary capacity once signed into law.
One of the largest banks in the Philippines, Unionbank, is reportedly launching cryptocurrency trading and custodial services. “It’s a way to future-proof our banking business,” said a Unionbank executive. Philippines’ Unionbank to Offer Crypto Trading and Custodial Services Union Bank of the Philippines (UBP), also known as Unionbank, plans to offer cryptocurrency trading and custodial services, Bloomberg reported Thursday. Unionbank is one of the largest universal banks in the Philippines with over $15 billion in assets under management (AUM). The bank is one....
Delegate Christopher T. Head introduced the bill (House Bill No. 263) back in January 2022, seeking an amendment to allow eligible banks to offer crypto custody services. The United States Senate unanimously approved a bill amendment request that now allows traditional banks operating in the Commonwealth of Virginia to provide virtual currency custody services. Delegate Christopher T. Head introduced the bill (House Bill No. 263) back in January 2022, seeking an amendment to allow eligible banks to offer crypto custody services:“A bank may provide its customers with virtual currency....
State Street Corporation, the largest custodial service provider in the world, plans to launch custodial services for bitcoin and other cryptocurrencies.
Virginia's first Bitcoin ATM! Today, the first Bitcoin ATM in Virginia launched. The ATM is owned by BlockBox, a company which provides Bitcoin services. According to Coin ATM Radar, the ATM converts fiat to bitcoin, with a 4% fee. The ATM is in Sterling Mower, a mower company, located at 22005 Shaw Rd, Sterling, VA 20164. With this ATM, Virginia joins the club of states in America to have a Bitcoin ATM. Less than two weeks ago, Pennsylvania got its first ATM. Virginia's ATM is a Lamassu machine, so it is small compared to most other Bitcoin ATMs. In images, it is resting on top of a stool....