Minnesota has enacted a law permitting state-chartered banks and credit unions to provide cryptocurrency custody services, effective August 1. Signed by Governor Tim Walz, the legislation allows these institutions to hold digital assets on behalf of customers, expanding the financial infrastructure for digital assets in the state. This move enables banks and credit unions to offer safekeeping of private keys and digital assets, a service previously limited to specialized crypto firms and select national banks. The law, codified as Session Law Chapter 93, introduces a regulated framework for crypto custody, potentially broadening access to digital asset services. It allows customers to hold cryptocurrencies like Bitcoin through familiar, regulated institutions, enhancing consumer protection. While the law permits these services, it does not mandate them, leaving the decision to individual institutions based on risk assessments and customer demand. This development is part of a broader trend of state-level crypto legislation in the U.S., as states take initiative amid ongoing federal regulatory discussions.