Virginia Passes Bill Allowing Banks To Provide Crypto Custody Services
This week, the Virginia Senate unanimously passed a cryptocurrency bill, which would allow banks in the state to provide cryptocurrency custody services to their customers.
The bill, known as House Bill No. 263, was introduced by Delegate Christopher T. Head in January 2022, with the goal of obtaining an amendment that would allow authorized banks to provide cryptocurrency custody services."By codifying the ability for state-chartered banks to become custodians of cryptocurrency, this will make Virginia the first in the country to provide this ability to banks through legislation."
