Hawaiian Authorities To Consider a Bill Allowing Banks to Store Cryptocurrency

The Hawaii Senate has a new bill that will allow banks to hold digital currencies. If this document is adopted, then financial institutions will be able to provide their customers with services related to cryptocurrencies. The new draft law says, in order to maintain a digital currency storage system, financial institutions need to hire an independent accountant and pay $1 to the local treasury every year. Bank customers will decide whether to allow financial institutions to manage their assets or not. If the bill is adopted, the new system will start working after 60 days. Earlier we wrote that the regulated crypto bank SEBA wants to re-raise $103 million. To keep up with the latest news in the world of cryptocurrencies and the blockchain industry, check out updates on TheCoinShark.