Texas State Licensed Banks Can Custody Bitcoin

The Texas Department of Banking has published a new stating that state-licensed banks can offer bitcoin custody solutions to customers, provided the bank has specific protocols in place to manage risk and comply with the law. The authority to provide these services already existed under the Texas Finance Code.

The notice states that banks can choose the specific custody and storage solutions they want to offer their clients based on what best suits the bank’s experience, risk appetite, and business model. When it comes to escrow solutions, the advisory mentions two example scenarios.

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