Hawaii will consider the bill that allows banks to work with digital assets


The legislators of the Hawaii Islands submitted a draft law for consideration, which will allow banks to work with digital assets.

The draft law SB2594 provides that financial institutions will be able to offer its customers the storage services of virtual currencies, tokens, digital securities and other similar assets.

In case of adoption of the law, banks will be able to use an affordable custodial service that can be launched 60 days after the date of document approval. However, they will additionally need to hire an independent auditor to verify digital accounts and pay an annual contribution of $ 1.

Customers will be able to allow financial institutions to carry out various operations with their digital assets, but for this will have to agree with the version of the source code of the Protocol used by the Bank.

The problem is that the adoption of the relevant law does not guarantee that banks will begin to offer a new type of service, since they will need to have fate reserves equal to the volume of digital deposits. In 2017, this became the main reason for the closure of companies working with cryptocurrency.

Banks begin to realize that cryptocurrencies are an integral part of the future, so gradually begin to integrate solutions for their safe storage. One example was the Dutch financial

To develop the channel, your support is important to us, subscribe to the channel and put like.