Logo
  • home
  • cryptocurrencies
  • bitcoin
  • ethereum
  • dogecoin
  • domains
  • contact

Louisiana State Governor Signs off on Crypto Custody Bill

The governor of Louisiana has signed a bill that will permit financial institutions to offer crypto custody services. 

The bill allows any financial institution or trust company to provide customers with crypto custody services if adequate risk management and compliance measures are in place.

The entities may also provide custody services through third-party service providers, making the move much easier for banks. The overall sentiment in the bill suggests that lawmakers want crypto services to flourish, but only if financial institutions are prepared to implement safety measures.

Louisiana bill sponsored by State Representative

The bill was signed by Governor of Louisiana John Bel Edwards, sponsored by Louisiana State Representative Mark Wright, and supported by the Pelican Center for Technology and Innovation. Many have cheered the news, saying it was forward-thinking and would have a positive impact.

This is one small step for the crypto market, but a step in the right direction nonetheless. It remains to be seen which banks and how many of them will make use of the bill, but it should prove an exciting time forward for state residents.

Lawmakers speeding up efforts on crypto

U.S. lawmakers have been warming up to crypto, though none have gone so far as to allow banks to allow crypto custody services. However, they do want an assessment of crypto investments in retirement accounts. Senators are planning to introduce a wide-ranging crypto regulation draft, and this rumored bill was leaked a few weeks ago. 

Most of it was well-received by the crypto community, many of whom cheer regulation because it will add some legitimacy to the market. This, in turn, will draw more investors in.

Individual firms have also been doing more with crypto, like Fidelity adding bitcoin to 401(k) retirement plans. Grayscale’s CEO has said that pension funds are actively exploring crypto, which points to a growing interest.

With more regulation incoming, and at least some of it positive, 2022 could prove to be a watershed moment for the crypto industry. The market might be down, but there are hopeful signs for investors and projects that are actually trying to build novel financial services.

The post Louisiana State Governor Signs off on Crypto Custody Bill appeared first on BeInCrypto.


Go to source (full text)

June 23, 2022   Rahul Nambiampurath
beincrypto.com crypto custody, Louisiana, Markets, U.S. Crypto, US Crypto Regulations

Related Posts

  • Moonbirds Surpasses $500 Million in All-Time NFT Sales 
    Moonbirds Surpasses $500 Million in All-Time NFT Sales 
  • Bitcoin (BTC) on-Chain Analysis: SSR Gives Buy Signal After New All-Time Low
    Bitcoin (BTC) on-Chain Analysis: SSR Gives Buy Signal After New All-Time Low
  • Terra’s Crypto Tokens UST and Luna Classic Mysteriously Pumped This Week, UST Climbed by 470%
    Terra’s Crypto Tokens UST and Luna Classic Mysteriously Pumped This Week, UST Climbed by 470%
×

  • India Clarifies On Crypto Tax, Smart Move or More Burden?
  • WAVES makes a big splash, but here’s why volumes could be key

Latest News

  • Happy 15th birthday, iPhone! Here’s a brief history — and some predictions for its future
  • Instagram’s plan to make all its video Reels is a transparent TikTok ripoff
  • Technoblade, a popular Minecraft YouTuber, dies from cancer age 23 — shares final video
  • VanEck refiles for physically-backed Bitcoin ETF with the US SEC
  • Instagram test turns all video posts into Reels
  • Financial Companies Report First Deal With Digital Assets Under Russian Law
  • Bitcoin Markets in Capitulation After Worse Quarterly Loss in a Decade
  • DeFi insurance is coming to Solana to protect users against exploits
  • Play and Fight in Monkey Empire, a F2P Game Comparable to Clash of Clans
  • Combining impact with financial gain: Insights from investors in the foodtech space
  • Aave Arc Pool set to Launch with 30 Institutions Already Onboard
  • Bitcoin’s price movements after El Salvador and MicroStrategy purchase
  • Understanding the Tokenomics of ZNT: DeFi protocol Zenith’s official token
  • The 13 best new TV shows of 2022
  • TikTok proves no one is going to ask you what you’re listening to

Domains For Sale

cryptotrading.ooo

cryptotrade.ooo

cryptodatas.com

cryptos.capital

cryptos.events

cryptos.ventures

cryptos.wtf

ooo.capital

ooo.loans

ooo.tours

property.bet

cryptocoin.ooo

cryptocoins.ooo

assets.bet

cryptoexchange.ooo

cryptomania.world

cryptoinvest.ooo

cryptos.media

cryptos.foundation

cryptos.fm

cryptobank.today

ooo.credit

ooo.finance

ooo.domains

ooo.health

cryptos.trade

ooo.world

-
$ 19,456.371.57%

Cryptocurrency Converter

Cryptocurrencies Price Live

Bitcoin Price Live

Ethereum Price Live

Dogecoin Price Live

Shiba Inu Price Live

XRP Price Live

Tether Price Live

Bitcoin Cash Price Live

Cardano Price Live

Bitcoin SV Price Live

Litecoin Price Live

Crypto.com Coin Price Live

Binance Coin Price Live

EOS Price Live

ChainLink Price Live

Buy Crypto Domains

Buy Crypto Domains
Find More > Go to Homepage
© 1010.team
Trusted news about IT, New Technologies, Internet Business, Startups, Cryptocurrency, Cybersecurity
bitcoin
Bitcoin (BTC) $ 19,456.37 1.57%
ethereum
Ethereum (ETH) $ 1,065.04 3.68%
tether
Tether (USDT) $ 1.00 0.03%
usd-coin
USD Coin (USDC) $ 1.00 0.05%
bnb
BNB (BNB) $ 222.03 6.33%
binance-usd
Binance USD (BUSD) $ 1.00 0.08%
cardano
Cardano (ADA) $ 0.455371 2.57%
xrp
XRP (XRP) $ 0.316426 1.82%
solana
Solana (SOL) $ 33.01 3.76%
dogecoin
Dogecoin (DOGE) $ 0.065604 3.77%