Minnesota banks and credit unions will soon be allowed to hold cryptocurrency for customers after Governor Tim Walz signed HF 3709 into law on May 15. The legislation, now Chapter 93 of Minnesota’s 2026 session laws, takes effect on Aug. 1, 2026. It allows eligible state financial institutions to safeguard digital assets and private keys on behalf of customers. Under the new law, Minnesota financial institutions may provide digital asset custody as agents, bailees, or trustees for safekeeping and administrative purposes. The measure also permits banks and credit unions to control cryptocurrencies and private keys for ... (full story)