Virginia Senate Passes Bill Allowing State Banks To Offer Bitcoin Custody Ser...
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.The Senate of the Commonwealth of Virginia passes a bill allowing banks to offer custodial services for bitcoin and other cryptocurrencies. Banks will adhere to self-assessment criteria in order to determine whether or not to offer custodial services. If banks choose to operate as a fiduciary it requires new private keys to be generated for and held by the bank, while non-fiduciary banks allow customers to maintain title....
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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....
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 […]
A bill aimed at getting the state of Utah to accept bitcoin for states services passes its first reading in the Senate. The bill has now passed its first Senate reading having already passed through the House of Representatives with a slim majority of 38 Yes votes against 36 No's. Utah state representative Marc K. Roberts introduced the proposal, Bill H.C.R 6, to the Clerk of the House of Representatives on February 10. “THEREFORE, BE IT RESOLVED that the Legislature of the state of Utah, and the Governor concurring therein, recognizes the potential benefits that could come from the....
The U.S. Senate has passed the $1.2 trillion infrastructure bill with a crypto reporting requirement provision that has been described as “unworkable.” Senator Ted Cruz warned: “This infrastructure bill has in it a portion that is designed to obliterate crypto. That would be a tragic mistake.” Senate Passes Infrastructure Bill With ‘Unworkable’ Crypto Tax Provision The U.S. Senate voted 69-30 to approve the $1.2 trillion bipartisan infrastructure bill Tuesday without a crypto amendment. Many people have raised concerns about the cryptocurrency provision....
The Paraguayan Senate has approved a bill that seeks to regulate cryptocurrencies and their operations in the country. The bill, which had already been submitted to the deputy chamber, was approved with some changes suggested, establishing clear definitions and tax exemptions for companies in the cryptocurrency and crypto mining sectors.
Paraguayan Cryptocurrency Bill Passes Senate Discussion
Countries in Latam are seeking to standardize and regulate cryptocurrency to bring more clarity to investors dedicated to the industry in the area. On July 14, the Paraguayan senate....