The Texas Banking Department has allowed state-licensed banks to hold crypto assets.
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The banking department’s statement is simply acknowledgment that standard risk-based assessments by the banks themselves are sufficient to provide cryptocurrency custody.
The statement from the department is as follows:
The regulator made a similar announcement last year and gave the green light to crypto.
The state of Texas continues to take positive steps about cryptocurrencies. Governor Greg Abbott recently took to Twitter to promote the government’s engagement with blockchain.
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