Texas Gives Green Light to State-Licensed Banks to Trust Encryption

Secretary of State warns of misleading business direct mail

Related Reading Bitcoin miners have been rushing in to take advantage of the regulatory environment as well as abundant supplies of wind energy in West Texas.  Source www.theblockcrypto.com

If the news sounds familiar, the U.S.’ national banking regulator made a similar announcement last year, greenlighting crypto custody as an interpretation of existing law. A subsequent change in federal administration has, however, cast doubt on the future of that interpretation.  “What virtual currency custody services a bank chooses to offer will depend on the bank’s expertise, risk appetite, and business model. For instance, the bank may choose to allow the customer to retain direct control over their own virtual currency and merely store copies of the customer’s private keys associated with that virtual currency. Alternatively, the bank may cause the customer to transfer their virtual currency directly to the control of the bank, creating new private keys that are then held by the bank on behalf of the customer.”

Texas has, meanwhile, been growing especially favorable to the crypto industry. Governor Greg Abbott recently took to Twitter to promote a new law to promote the state’s engagement with blockchain.  The Department of Banking wrote: 

The News Highlights

  • Texas Gives Green Light to State-Licensed Banks to Trust Encryption
  • Check the latest News news updates and information about business, finance and more.
Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Health director announces that DHM will expire this Friday

Health director announces that DHM will expire this Friday

Some of the key changes are there will be no guidelines for gatherings regardless of size and location.   “Restaurants, bars, childcare facilities, ...
Local gymnasts raise money for Special Olympics during pandemic

Local gymnasts raise money for Special Olympics during pandemic

Source wkow.com About 98 gymnasts took part in the competition. One gymnast, Abby Shaffer, says her team decided to give money to the Special Olympics since ...
Lordstown Motors takes on 'Voltage Valley' on a wild trip after financial uncertainty reveals

Atlanta HBCUs Receive $90 Million to Foster Diversity in the Financial Field |

“Working with HBCUs will allow alternative investment managers to tap into a deep talent pool that this industry has often overlooked,” said Howard Marks, ...
Texas Rep. Paid a gospel singer.  Records show the money went to an anti-Semite

Texas Rep. Paid a gospel singer. Records show the money went to an anti-Semite

Source www.jpost.com if(window.location.pathname.indexOf(“656089”) != -1){console.log(“hedva ...
Chip shortage addressed by US-EU technology alliance

Chip shortage addressed by US-EU technology alliance

The group will also seek to set common standards for new technologies such as artificial intelligence. Both sides are concerned by the rise of China as a ...
Inspire Brands Names Kate Jaspon Chief Financial Officer

Inspire Brands Names Kate Jaspon Chief Financial Officer

Throughout his time with the company, David has grown his leadership in Finance, culminating in his most recent role as CFO of Inspire. Previously, he worked ...
Best cheap wireless earbuds in 2021

Best cheap wireless earbuds in 2021

You can find an endless list of true wireless earbuds under $100 on Amazon from random brands you’ve probably never heard of. But I’m sticking with some ...
The best over-ear headphone

Mega-popular Beats Solo3 wireless headphones are at a discount of 40% at Amazon

Amazon will give you free shipping for these. But if you have Amazon Prime, you’ll get so much more—from access to new movies to two-day shipping on many ...
General Motors’ electric vehicle plan just got even more expensive

General Motors’ Electric Vehicle Plan Got Even More Expensive

GM isn’t the only automaker to keep upping its investment in EVs GM isn’t the only automaker to keep upping its investment in EVs. Last month, Ford said it ...
05/2021 Green Hydrogen Systems A/S Announces Financial Calendar for 2021

05/2021 Green Hydrogen Systems A/S Announces Financial Calendar for 2021

Media: Aleksandra Lozinska, Head of Marketing and Media Relations, +45 4414 0344, alo@greenhydrogen.dk Investors: Jens Holm Binger, Head of IR, +45 6065 6525, ...
Show next
Compsmag - Latest News from tech, business and health
Logo