The Texas House of Representatives passed a bill to recognize cryptocurrencies under commercial law last month.
A Texas state regulator has officially affirmed that Texas state-chartered banks are allowed to store cryptocurrencies like Bitcoin (BTC) for their customers.The Texas Department of Banking, a state regulatory agency chartering state banks and supervising financial services, issued a notice on Thursday stating that local banks are permitted to provide crypto services in the state.The agency noted that Texas banks “may provide customers with virtual currency custody services, so long as the bank has adequate protocols in place to effectively manage the risks and comply with applicable law.”The regulator briefly explained cryptocurrencies, stressing that virtual currencies do not exist in a physical form, but on a blockchain and thus require the owner to hold private keys to access them. The authority further s
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