Senators in Nebraska have recently provided support to a motion that would enable various state banks to be able to facilitate and allow cryptocurrency transactions, much like the ones in Wyoming. To this end, lawmakers in Nebraska are currently going ahead with a plan which would allow the aforementioned state banks to finally be able to offer various crypto-related services.
The senators had decided to favor the measure via the 1st of 3 mandatory votes as part of the legislature, and 39 lawmakers had voted on advancing the bill for the purposes of enrolment as well as initial review this past Sunday on May 9th, 2021.
The Nebraska Financial Innovation Act (NFIA) is the aim of Legislature Bill 649, and it has hopes of forming digital asset-based depository institutions and providing operation, regulation, charter, and supervision for these institutions as well.
This initiative shall make Nebraska only the 2nd state within the entire United States of America to have successfully established a formal charter to be utilized for various banks powered by cryptocurrency. This would therefore enable the banks to be able to facilitate the aforementioned cryptocurrency transactions, much like how Wyoming was able to do back in September of 2020.
Also read:Furthermore, Senator Michael Flood had stated the bill had been introduced by him following discussions with one of his entrepreneur friends that had joined the crypto industry over in Wyoming. Flood claims that Nebraska has the chance to truly transform itself into becoming one of the initial adopters of the cryptocurrency craze through the previously stated measure and that this could additionally assist in benefitting finance and technology-based jobs as well. He even went as far as to say that this is an opportunity that only comes once within a lifetime, not just for the district but for the entire Nebraska state.
Skepticism remains
Naturally, as is the case with any new initiative, there are those who would oppose it. Certain lawmakers have made it known that they are not entirely convinced as far as the initiative is concerned and have questioned the decision to have Nebraska become increasingly involved with an industry that is so highly volatile and often unpredictable.
Another senator by the name of Steve Erdman had stated that although the bill has gained some traction, it is still far from being in a position where it could be passed. Nevertheless, support from the cryptocurrency community continues, and many are optimistic that the bill will be passed given enough support, resources, and time.
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