At the Fordham Law Blockchain Regulatory Symposium, Wyoming announced the first-ever opt-in custody rules regarding its “blockchain banks.”
Wyoming’s “blockchain banks” — legally known as “special purpose depository institutions” (SPDIs) — were approved by the Wyoming state legislature in February of this year and were introduced to serve those businesses unable to secure FDIC-insured banking services due to their dealings with cryptocurrency.
In her tweets, Long — a 22-year Wall Street veteran and cryptocurrency activist — indicated that the newly-released custody rules include what she claims are the first-ever regulatory provisions for digital asset custodians in many areas — including forks, airdrops, staking, customer notice requirements and so forth.
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According to Long, the document was reviewed by four crypto sector Chief Technical Officers, alongside multiple Chief Operating Officers and dozens of attorneys.