The press center of the Texas Department of Banking said that now local lending institutions can process customer transactions with cryptocurrencies. In particular, they will be able to provide services for storing and accepting bitcoin or other virtual coins.
A special order from the department, published this week, says that every Texas bank has received the right to process incoming bitcoin transactions and store copies of keys from client’s crypto wallets.
Credit organizations operating in this US state have also received the authority from the authorities to cooperate with startups developing various services for operations with digital assets.
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The client must give his bank the right to store his cryptocurrency. The parties conclude an appropriate agreement, and the bank is responsible for the safety of funds of an individual or legal entity.
Note that of all the American states of Texas, one of the first began to move along the path of introducing crypto regulation.
Back in early 2019, local authorities began to consider a bill on identifying the identity of senders and recipients of funds in bitcoin or other virtual currency.