State • Minnesota

HF 3709: Virtual-currency custody services allowed to be offered and performed.

Bernie PerrymanIntroduced

HF 3709 status: Introduced — Effective date 08/01/2026 (updated Aug 1, 2026).

1

What this bill does

Overall score

Score60/100 civic fit
RiskModerate risk
ImpactModerate impact 55/100

Bill summary

Official

Virtual-currency custody services allowed to be offered and performed.. Currently in House.

Key analysis

Constitutionality80%
Bipartisan60%
Public opinion50%
2

Impact analysis

Environment

Mixed / Neutral
50%

Benefits

  • No direct impact on environmental policy.

Risks

  • No direct impact on environmental policy.

Economy

Positive Outlook
70%

Benefits

  • Enables financial institutions to offer new services.
  • Increases institutional participation in digital asset markets.

Risks

  • Potential for increased operational costs for compliance.
  • Risk of market volatility impacts on balance sheets.

Society

Mixed / Neutral
50%

Benefits

  • Provides consumers with more options for asset custody.

Risks

  • Potential for consumer loss if custody protocols are not standardized.
3

How trustworthy & consequential it is

Source

OpenStates

Confidence

low

low

Analysis status

OpenStates summary

Warning

LegiScan returned a PDF-only document. PDF extraction is not enabled in this build, so the pipeline used a safer fallback.

Limitation

Analysis is based solely on a high-level legislative abstract.

4

Where it stands

1

Introduced

Current

Effective date 08/01/2026

2

Committee

Upcoming
3

Floor

Upcoming
4

Governor

Upcoming
5

Enacted

Upcoming
5

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6

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