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Banking Division > Enhanced Digital Asset Custody Framework
Short Summary
The provided legal document content outlines the Enhanced Digital Asset Custody Framework within the Banking Division of the Department of Audit in Wyoming. It governs the provision of custodial services for digital assets by banks. The document specifies the requirements for banks to serve as qualified custodians and maintain customer digital assets, funds, and other securities. It allows banks to undertake various transactions with digital assets and defines the scope of custodial services. The document also addresses customer protections, requirements for customer agreements, risk management and operations, compliance with federal laws, secure creation and storage of digital assets, transaction handling procedures, custody operations, and digital asset lending. It emphasizes the importance of maintaining solvency, safety, and soundness of the bank while providing custodial services. The document does not mention any specific exemptions or penalties.
Whom does it apply to?
Banks that elect to opt into enhanced regulatory requirements for digital asset custodial services under W.S. 34-29-104
What does it govern?
Enhanced Digital Asset Custody Framework
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Wyoming