-2.05% Bitcoin (BTC) 94956.2 EUR
-4.18% Ethereum (ETH) 3770.4 EUR
-2.35% Litecoin (LTC) 95.15 EUR
-2.90% B-Cash (BCH) 467.08 EUR
-2.21% Ethereum (ETH) 0.0401677 BTC
-0.39% Litecoin (LTC) 0.00101404 BTC
-1.40% B-Cash (BCH) 0.00490456 BTC
-2.22% Bitcoin (BTC) 111805.1214 USDC
+0.14% USD Coin (USDC) 0.85 EUR
-1.36% Chainlink (LINK) 20.5 EUR
+1.18% Chainlink (LINK) 0.0002165 BTC
-2.47% Dogecoin (DOGE) 0.18 EUR
-0.50% Dogecoin (DOGE) 0.00000198 BTC
-2.87% Uniswap (UNI) 8.41 EUR
-0.68% Uniswap (UNI) 0.00008877 BTC
-3.52% Cardano (ADA) 0.72 EUR
-1.41% Cardano (ADA) 0.00000765 BTC
-2.38% Tron (TRX) 0.29 EUR
-0.32% Tron (TRX) 0.0000031 BTC
-2.47% Shiba Inu (SHIB) 0.00001064 EUR
+2.53% Zcash (ZEC) 37.77 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
-3.87% Arbitrum (ARB) 0.5004 USDC
-1.57% Chainlink (LINK) 23.58 USD
-1.29% Chainlink (LINK) 23.67694 USDC
-3.03% Uniswap (UNI) 9.694 USDC
-2.21% Ondo (ONDO) 0.78 EUR
-2.59% Ondo (ONDO) 0.91978 USDC
-2.08% Gala (GALA) 0.01 EUR
-3.03% Gala (GALA) 0.0163 USDC
+20.90% Wormhole Token (W) 0.07 EUR
+21.09% Wormhole Token (W) 0.0893 USDC
-1.33% Chiliz (CHZ) 0.03 EUR
-1.21% Chiliz (CHZ) 0.03968 USDC
-0.78% Sand (SAND) 0.23 EUR
-1.17% Sand (SAND) 0.2778 USDC
-2.04% Aave (AAVE) 267.96 EUR
-1.89% Aave (AAVE) 312.83 USDC
-5.45% Curve DAO (CRV) 0.65 EUR
-5.44% Curve DAO (CRV) 0.7671 USDC
-2.49% Immutable X (IMX) 0.45 EUR
-3.12% Immutable X (IMX) 0.5299 USDC
0.00% Skale (SKL) 0.07 USDC
-0.93% Beam (BEAM) 0 EUR
+0.54% Beam (BEAM) 0.00741 USDC
0.00% Axelar (AXL) 1.05 USDC
-14.98% Livepeer Token (LPT) 6.15 EUR
-16.26% Livepeer Token (LPT) 7.15 USDC
-1.99% Compound (COMP) 37.31 EUR
-1.91% Compound (COMP) 43.56 USDC
-1.54% Coti (COTI) 0.04 EUR
-1.51% Coti (COTI) 0.0521 USDC
0.00% Portal (PORTAL) 1.1 USDC
-1.89% Sushi (SUSHI) 0.66 EUR
-2.06% Sushi (SUSHI) 0.7702 USDC
-2.52% Pepe (PEPE) 0 EUR
-2.65% Pepe (PEPE) 0.0000099 USDC
-2.56% Optimism (OP) 0.6 EUR
0.00% Polygon (MATIC) 0.2 EUR
-1.01% Solana (SOL) 181.03 EUR
+0.89% Solana (SOL) 0.001908 BTC
+3.44% Solana (SOL) 0.048021 ETH
+0.54% USD Coin (USDC) 0.74 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY

US Virginia Senate allows state banks to offer crypto custody services

03-07-2022

The Senate of Virginia in the United States unanimously approved a bill amendment request that now allows traditional banks operating in the Commonwealth of Virginia to provide virtual currency custody services. Delegate Christopher T. Head introduced the bill, House Bill No. 263, back in January 2022, seeking an amendment to allow eligible banks to offer crypto custody services:

 

“A bank may provide its customers with virtual currency custody services so long as the bank has 26 adequate protocols in place to effectively manage risks and comply with applicable laws.”

 

The bill passed Senate with a sweeping 39-0 vote and is waiting to be signed into law by Governor of Virginia Glenn Youngkin. Banks that intend to offer this service to clients will need to adhere to three specific requirements mentioned in the bill: implement effective risk management systems, possess adequate insurance coverage and launch an oversight program to address risks associated with cryptocurrencies.

 

However, the Senate will require the banks’ customers to retain direct control of their public and private keys associated with their virtual currency, adding:

 

“Acting in a fiduciary capacity, the bank shall require customers to transfer their virtual currencies to the control of the bank by creating new private keys to be held by the bank.”

Other states such as Wyoming have also recently seen an introduction of legislation for a state-issued stablecoin.

 

Just last month, the House Committee on Financial Services had a discussion about whether regulations on stablecoins and digital assets should be addressed at the state or federal level.

 

In this regard, North Carolina Representative and ranking committee member Patrick McHenry asked the committee to consider state-level regulatory frameworks in lieu of a comprehensive federal law on stablecoins.

 

Source: Cointelegraph