Virginia Senate Passes Bill Allowing State Banks To Offer Bitcoin Custody Ser...

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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