Minnesota legislation · 94th Legislature 2025-2026
Minnesota SF3794: Certain virtual-currency custody services permission to be offered and performed
Status: In committee, May 5, 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 introduced text, February 19, 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 fiduciary or 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 …
Sponsors
- Judy Seeberger (D) · primary sponsor
- Jeremy Miller (R)
- Ann Rest (D)
Latest actions
- : Rule 45; subst. General Orders HF3709, SF indefinitely postponed
- : Second reading
- : Comm report: To pass
- : Author added Rest
- : Referred to Commerce and Consumer Protection
- : Introduction and first reading
Common questions
- What is SF3794?
- SF3794 is a bill in the Minnesota Legislature (94th Legislature 2025-2026): Certain virtual-currency custody services permission to be offered and performed.
- What does SF3794 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 SF3794?
- In committee as of May 5, 2026. Latest action: Rule 45; subst. General Orders HF3709, SF indefinitely postponed (May 5, 2026).
- Who sponsored SF3794?
- Judy Seeberger (D), with 2 co-sponsors.
- Where is the official record for SF3794?
- On the Minnesota Legislature website: https://www.revisor.mn.gov/bills/bill.php?f=SF3794&y=2025&ssn=0&b=senate
Source: official Minnesota record. Tracked by Delilah, AI for legislation across all 50 states and Congress.