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Crypto
Minnesota bans operation of prediction markets, stirs debate ahead of August start
U.S. state Minnesota has passed a bill banning the in-state operation of prediction markets such as Kalshi and Polymarket. Governor Tim Walz signed the measure, which includes public safety provisions, and it is set to take effect on Aug. 1. Opposition has already emerged ahead of implementation. The move comes as several states pursue legal action and as the U.S. Commodity Futures Trading Commission argues it holds sole oversight authority.
AI & Enterprise
Minnesota to allow banks, credit unions to offer crypto custody services
Minnesota will allow banks and credit unions to provide cryptocurrency custody services starting on Aug. 1. Cointelegraph reported that Governor Tim Walz (팀 월즈) signed House bill HF 3709. Under the new law, Minnesota-based banks and credit unions can offer certain crypto custody services on a non-trust basis and may use external service providers or sub-custodians. Customer funds must be legally and operationally segregated from the institutions’ assets.
Crypto
Haverhill City Council seeks to ban crypto ATMs, with 60-day removal deadline and $300-a-day fine
The Haverhill City Council in Massachusetts is reviewing an ordinance that would ban the installation and operation of crypto ATMs in the city. If approved, all crypto kiosks and ATMs in Haverhill would have to be removed within 60 days, with a fine of $300 per day for missed deadlines. The city cited potential harm to residents, including risks of financial fraud, money laundering and limited recourse for users.
