Minnesota Law Opens Crypto Custody to Banks, Credit Unions — One Credit Union Already Has a Head Start
Minnesota has enacted a law allowing banks and credit unions to provide cryptocurrency custody services. This legislation aims to clarify regulatory uncertainties and integrate digital assets into the regulated financial system. St. Cloud Financial Credit Union has already begun offering these services ahead of the law's official implementation date.
- ▪Governor Tim Walz signed HF 3709 into law, which takes effect on August 1, 2026.
- ▪The law requires institutions to adopt risk management policies and file notices with the Minnesota Commissioner of Commerce before offering custody services.
- ▪St. Cloud Financial Credit Union launched its CU-Digital Asset Vault™ in March, becoming the first credit union in Minnesota to offer crypto custody.
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| Original publisher | Bitcoin Magazine |
| Canonical URL | https://bitcoinmagazine.com/news/minnesota-law-opens-crypto-custody |
| Publication time | Wed, 20 May 2026 17:02:27 +0000 |
| Retrieval time | 2026-05-20T17:05:02.733Z |
| Last seen | 2026-05-20T17:05:02.733Z |
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