Louisiana Financial Institutions Provides Custody for Digital Assets

Louisiana Financial Institutions Provides Custody for Digital Assets

The Governor of Louisiana, John Bel Edwards has signed a bill which allows financial institutions in the state to custody digital assets for customers. 

The bill titled HB 802 was signed by the governor on June 21.

It was sponsored by Louisiana State Representative Mark Wright and supported by the Pelican Center for Technology and Innovation.

The bill allows financial institutions in Louisiana to provide “its customers with virtual currency custody services if the financial institution or trust company has adequate protocols in place to effectively manage risks and comply with applicable laws.”

Read Also: Louisiana Proposes Bill Allowing Crypto Donations for Political Campaigns

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