Minnesota legislation · 94th Legislature 2025-2026
Minnesota HF3709: Virtual-currency custody services allowed to be offered and performed.
Status: Signed into law, August 1, 2026
What the bill says
A bill for an act relating to financial institutions; allowing certain virtual-currency custody services to be offered and performed; proposing coding for new law in Minnesota Statutes, chapters 48; 52.
From the engrossed text, May 11, 2026:
A bill for an act relating to financial institutions; allowing certain virtual-currency custody services to be offered and performed; proposing coding for new law in Minnesota Statutes, chapters 48; 52. Section 1. new text begin [ADDED: [48.741] VIRTUAL-CURRENCY CUSTODY SERVICES.] new text end new text begin [ADDED: Subdivision 1.] new text end new text begin [ADDED: Definitions.] new text end new text begin [ADDED: (a) For purposes of this section, the following terms have the meanings given.] new text end new text begin [ADDED: (b) "Control of virtual currency" has the meaning given in section 53B.69, subdivision 2.] new text end new text begin [ADDED: (c) "Virtual currency" has the meaning given in section 53B.69, subdivision 6.] new text end new text begin [ADDED: (d) "Virtual-currency custody services" means safekeeping, controlling, or managing virtual currency, or the cryptographic private keys used to access virtual currency, on behalf of another person.] new text end new text begin [ADDED: Subd. 2.] new text end new text begin [ADDED: Authority.] new text end new text begin [ADDED: A banking institution may provide virtual-currency custody services in a nonfiduciary capacity, subject to this section and applicable state and federal law.] new text end new text begin [ADDED: Subd. 3.] new text end new text begin [ADDED: Safety and soundness.] new text end new text …
Sponsors
- Bernie Perryman (R) · primary sponsor
- Steve Elkins (D)
- Keith Allen (R)
Latest actions
- : Effective date
- : Governor approval
- : Presented to Governor
- : Bill was repassed as amended by the Senate vote: 119-6
- : Third reading as amended by the Senate
- : Motion prevailed
- : Motion to concur with Senate amendments
- : Returned from Senate with amendment
- : House rule 1.15 (c), message requesting concurrence received
- : Third reading Passed as amended vote: 51-16
Votes
- CONSIDERATION OF MESSAGE FROM THE SENATE - Passage, as amended by the Senate (May 11, 2026): 119 yea, 6 nay, passed
- the passage of the bill, as amended (May 6, 2026): 51 yea, 16 nay, passed
- CALENDAR FOR THE DAY - Passage (April 30, 2026): 130 yea, 4 nay, passed
Common questions
- What is HF3709?
- HF3709 is a bill in the Minnesota Legislature (94th Legislature 2025-2026): Virtual-currency custody services allowed to be offered and performed.
- What does HF3709 do?
- In its own words: A bill for an act relating to financial institutions; allowing certain virtual-currency custody services to be offered and performed; proposing coding for new law in Minnesota Statutes, chapters 48; 52.
- What is the status of HF3709?
- Signed into law as of August 1, 2026. Latest action: Effective date (August 1, 2026).
- Who sponsored HF3709?
- Bernie Perryman (R), with 2 co-sponsors.
- Where is the official record for HF3709?
- On the Minnesota Legislature website: https://www.revisor.mn.gov/bills/bill.php?f=HF3709&y=2025&ssn=0&b=house
Source: official Minnesota record. Tracked by Delilah, AI for legislation across all 50 states and Congress.