Nebraska Governor Pete Ricketts has signed a bill allowing local banks to hold cryptocurrency.
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The document was developed by Republican Senator Mike Flood in cooperation with Telcoin. It involves the creation of a new state banking charter focused on financial services backed by digital assets.
The Nebraska Financial Innovation Act allows lending institutions to manage cryptocurrency custodians. These institutions can be registered in the US or abroad.
Telcoin is a telecommunications-focused blockchain company that has developed a money transfer system on the Ethereum network. She took an active part in the development of the bill, which was one of Flood's first initiatives as a senator.
In July 2020, the Office of the Comptroller of Currency under the US Treasury authorized national banks to store cryptographic keys from cryptocurrency wallets. Nebraska law extends this right to state-registered institutions.
Recall that in May 2021, Nebraska Senator Carol Blood proposed using blockchain to track the origin of products: from farms to store shelves.