Nebraska becomes second state to license crypto banks

The Nebraska Governor's Office officially signed the Nebraska Financial Innovation Act on Tuesday, which allows banks to provide services to customers who own Bitcoin and other digital assets. This means that Nebraska has become the second state in the United States to issue licenses for crypto banks, the first being Wyoming.

According to Bitpush's previous report, Nebraska's legislative bill No. 649 on "allowing banks to provide services to customers who own Bitcoin and other digital assets" was approved by the state legislature.

The bill, authored by Senator Mike Flood, would establish digital asset banks as a new type of financial institution that would allow customers to deposit cryptocurrencies such as Bitcoin or Dogecoin.

“My goal is to grow Northeast Nebraska by helping to create good-paying, high-skilled jobs,” Flood said. “This bill enables Nebraska to seize opportunities and excel in innovation. S. 649 is a historic step toward leading the way in financial technology.”

Flood said the Nebraska Financial Innovation Act will appeal to cryptocurrency operators who want to protect consumers through regulation, structure and accountability.