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<p>Financial institutions with a state banking license can now store copies of keys from <strong>crypto wallets</strong> and accept <strong>digital currency transfers</strong>.</p>



<p>The <a href="https://www.dob.texas.gov/sites/default/files/files/news/Industrynotices/in2021-03.pdf" target="_blank" rel="noreferrer noopener"><strong>Texas </strong>Department of <strong>Banking </strong>has advised <strong>banks </strong>that they can store their clients&#8217; <strong>cryptocurrencies </strong>with &#8220;appropriate protocols.&#8221;</a> The department noted that banks already have the authority to provide these services in accordance with the <strong>Texas </strong>Finance Code § 32.001.</p>



<p><strong>State banks</strong> can now store copies of keys from <strong>crypto wallets</strong> and <strong>accept cryptocurrency transfers</strong>. Banks are also allowed to partner with other companies to provide such services.</p>



<p><strong>Banks </strong>with fiduciary powers may offer fiduciary custody services, which means they have certain legal obligations to the customer, including &#8220;to keep the <strong>asset </strong>safe and return it intact upon request.&#8221;</p>



<p><a href="https://cointopsecret.com/2021/05/30/in-nebraska-banks-were-allowed-to-store-cryptocurrency/">In late May, <strong>Nebraska </strong>passed a bill allowing depositories holding <strong>digital assets</strong> to obtain a <strong>banking </strong>license</a>. The law was developed by local Senator <strong>Mike Flood</strong> in conjunction with <strong>blockchain </strong>company <strong>Telcoin</strong>.</p>



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