Certain virtual-currency custody services permission to be offered and performed

SF 3794 would allow Minnesota banks and credit unions to offer virtual-currency custody services, such as safely holding customers' digital assets (like Bitcoin) or the private keys needed to access them. The bill requires financial institutions to follow strict safety rules, including cybersecurity measures, written risk policies, and keeping customer crypto separate from the institution's own assets. It mandates 60-day written notice to regulators before offering these services and sets an effective date of August 1, 2026. The law does not change how virtual currency is legally treated but directly affects financial institutions and their customers seeking secure crypto storage options.