• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • TWS, Singapore (July 28-29, 2025)
    • WFIS, Philippines (September 23-24, 2025)
    • Forex Expo Dubai (October 6-7, 2025)
    • Merge Madrid (October 7-9, 2025)
    • European Blockchain Convention, Barcelona (October 15-17, 2025)
    • Blockchain Futurist Conference, Florida (November 5-6, 2025)
    • WFIS, Indonesia (November 25-26, 2025)
  • Past Events
    • Blockchain Life
    • BlockShow Europe
    • Event Horizon

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies

Join us on Telegram: https://t.me/crypto_reporter
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

Texas to allow state banks to provide cryptocurrency custody to clients

June 15, 2021 By Crypto Reporter

Financial institutions with a state banking license could store copies of the customer’s private keys and accept digital currency transfers

The Department of Banking of the state of Texas in an official notice has authorised state-chartered banks to hold virtual currency for customers, so long as they have “adequate protocols” in place. The Department has noted that the banks are already authorised to provide these services in accordance with Texas Finance Code § 32.001.

From now on state banks can store copies of the customer’s private keys associated with virtual currency and accept crypto transfers. The banks can also partner with other companies offering similar services.

The banks providing custody services to clients could do so in either a fiduciary or non-fiduciary capacity. Non-fiduciary means the bank acts as a bailee, simply safeguarding a customer asset while the legal title to that asset remains with the customer. The bank carries the duty to “keep the asset safely and to return it unharmed upon request”. In its fiduciary capacity, the bank possesses the authority to manage virtual currency assets in a way as any other type of asset held in such capacity.

At the end of May the state of Nebraska introduced a legislation allowing custody providers holding digital assets apply for a banking license. The law was put in motion by Nebraska state senator Mike Flood in cooperation with blockchain company Telcoin.

Filed Under: General News, News Tagged With: crypto custody, cryptocurrency, news, Texas

Primary Sidebar

Follow Us

Press Releases

Camp Network Acquires Strategic Stake in KOR Protocol to Accelerate Tokenized IP and AI-Native Content

July 10, 2025

AMINA Becomes the First Bank Globally to Support Ripple USD (RLUSD) as Demand for Stablecoins Surges

July 10, 2025

Members Capital Management Completes Initial Deployment of Tokenised Reinsurance Fund

July 10, 2025

BONK, SHIB and PEPE Are Pumping Again, But This Newcomer May Outrun Them All By 100x

July 10, 2025

Crypto Price Predictions 2025: AVAX, SUI, and This New Crypto Presale Star Signals a Bullish Future

July 10, 2025

TWS Conference

Forex Expo Dubai

Merge Madrid

Futurist Conference

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2025 Crypto Reporter