Nebraska May Allow Banks To Provide Cryptocurrency Custody Services

Legislators in the US state of Nebraska have moved on to final consideration of a bill allowing local banks to provide cryptocurrency services.

About it
reported on Twitter by Senator Julie Slama. The bill aims to develop financial innovation in the state, create special institutions for the storage of cryptoassets, and develop general regulations regarding the supervision of the activities of such institutions.

The proposal was submitted by Republican Mike Flood back in January. Flood hopes that providing conditions for the development of cryptocurrencies in the state will help create new jobs. This will have a positive impact on the entire Nebraska economy. However, there were also skeptics. For example, Senator Steve Erdman believes that the bill is still “damp” and requires significant improvement.

At the same time, Slama is confident that after the adoption of the law, the state of Nebraska can be considered a leader in the regulation of digital assets. In this case, Nebraska will become one of the few US states that are friendly to cryptocurrencies. So, in April last year, Wyoming allowed insurance companies to invest in digital securities and cryptocurrencies. In addition, last month the Governor of Wyoming signed into law a law that would qualify Decentralized Autonomous Organizations (DAOs) as a new type of limited liability company.

Miami Mayor Francis Suarez also wants to create a favorable environment in the city for the development of cryptocurrency startups in order to make Miami “the capital of digital currencies.”

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