- This topic has 6 replies, 1 voice, and was last updated 3 months, 1 week ago by Livid_Yam.
- Wednesday, June 22nd, 2022 at 10:37 #316152metamecParticipant
Cryptocurrency News – U.S. Governor signs bill allowing Louisiana banks to custody BTC and crypto for customers.
Read Here (Article Link):
What are your thoughts after reading this news article?Wednesday, June 22nd, 2022 at 10:37 #316153princepersona1
I mean, this is what mass adoption means wheter we like it or notWednesday, June 22nd, 2022 at 10:37 #316155metamec
The source is [this Twitter submission](https://twitter.com/Dennis_Porter_/status/1539328597093060608) which includes a copy of the House Bill.Wednesday, June 22nd, 2022 at 10:37 #316156tromix1
inb4; the bank does some fractional reserve bullshit with your bitcoin, and your “safe” bitcoin gets leveraged 20:1 so the bank can gamble.
Protip for most of you who’ve never read the fine print: The “FDIC Insured for $250k” feel good that financial institutions have on their account information, has a tiny caveat written in the finest print imaginable.
>They have 99 years to pay you back.
so its fucking worthless.Wednesday, June 22nd, 2022 at 10:37 #316157keeprollin420
Indeed, the bill “No. 802”, which was sponsored by Louisiana State Representative Mark Wright and supported by the Pelican Center for Technology and Innovation and its director Eric Peterson who shared the news as well, states that its enactment would:
“Allow financial institutions and trust companies to serve as custodians of digital assets; to provide for parameters and procedures; and to provide for related matters.”Wednesday, June 22nd, 2022 at 10:37 #316158coinfeeds-bot
tldr; Louisiana Governor John Bel Edwards has signed a bill that would allow financial institutions in the state to custody Bitcoin and other digital assets for customers. The bill was sponsored by Louisiana State Representative Mark Wright and supported by the Pelican Center for Technology and Innovation. It would allow a governing authority to petition the state land office to designate a tract of land within the parish as a power zone.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*Wednesday, June 22nd, 2022 at 10:37 #316159Livid_Yam
And so it shall be called “The Louisiana crypto purchase”
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