Minnesota Gov. Tim Walz signs HF 3709, crypto custody law takes effect Aug. 1, 2026

Minnesota Gov. Tim Walz signed HF 3709 into law, allowing state-chartered banks and credit unions to provide custody for bitcoin and other virtual currencies starting Aug. 1, 2026. Institutions must give the Minnesota Department of Commerce 60 days' written notice before launching and keep customer assets segregated, while the law bars banks from trading, investing, or lending the crypto they hold.