Nebraska bill to allow banks to offer crypto services moves forward
Nebraska senators have favored a measure that would allow state banks to facilitate crypto transactions like those in Wyoming. Nebraska lawmakers are moving forward with an initiative that would allow state banks to offer cryptocurrency services.State Senators favored the measure through the first of three required votes in the legislature, with 39 lawmakers voting to advance the bill for enrollment and initial review on Sunday.Introduced by Republican Mike Flood in January, Legislature bill 649 aims to adopt the Nebraska Financial Innovation Act and create digital asset depository....
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Nebraska could follow Wyoming and open its first crypto bank should the bill pass the final round. Lawmakers in the U.S. state of Nebraska have taken another step towards passing a bill that will allow state banks to offer cryptocurrency services.According to a May 19 tweet from Senator Julie Slama, the legislature called LB 649 has just passed to the final round of debate. She added that the bill establishes a statewide framework for cryptocurrency and digital asset banks in Nebraska:“Excited for Nebraska to be a national leader in crypto!”As reported by Cointelegraph earlier this month,....
Senator Mike Flood hopes to pass the bill in order to make Nebraska a financial technology hub and create new jobs.
The bill was co-authored with the cryptocurrency firm Telcoin and introduced by Republican state senator Mike Flood. A crypto-friendly bill — co-authored by a cryptocurrency firm and first introduced by Republican state senator Mike Flood this January — was signed into law today in Nebraska.The Nebraska Financial Innovation Act was one of Senator Flood's first initiatives, introduced scarcely two weeks after being sworn into office. It will authorize the regulation of digital asset depositories in the state by creating a new state banking charter tailored to digital asset-backed financial....
“We need to be a leader in FinTech,” said State Senator Mike Flood. A Nebraska state senator has proposed new crypto-friendly legislation which could see his state become the next regulatory safe haven for FinTech firms.Sworn in just two weeks ago, Republican Mike Flood today introduced the Transactions in Digital Assets Act and Adopt the Nebraska Financial Innovation Act to the state’s 107th Legislature. The two bills lay out guidelines for state banks to be able to custody digital assets in addition to creating financial institutions dealing in digital assets for which Nebraska would....
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.