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Nebraska could let state banks offer cryptocurrency services

Bitcoin sinks 20 percent as cryptocurrencies plummet
Posted at 7:19 PM, May 10, 2021
and last updated 2021-05-10 20:19:30-04

OMAHA, Neb. (AP) — Nebraska banks that want to cash in on the cryptocurrency tech craze could start offering services to customers who own Bitcoin and other digital assets under a bill backed by state lawmakers.

Senators advanced the measure, 39-1, through the first of three required votes in the Legislature.

The measure would make Nebraska the second state to create a formal charter for “cryptobanks,” allowing them to help facilitate transactions. The first state was Wyoming, which chartered its first institution in September.

Cryptocurrencies are an online form of money that are stored and tracked using a decentralized network of independent computers, which make transactions extremely secure and easy to verify.

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