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Senate approves bills on digital‑asset custody, labor and other technical fixes
Summary
On May 6 the Senate passed a package of bills: HF3709 allowing banks and credit unions to offer custodial digital‑asset accounts under state oversight; SF2373 (labor/industry technical fixes); HF4063 (school bus safety updates); HF4151 (private‑detective licensing changes); and HF3769 (DOC technical corrections). Several passed with bipartisan votes.
The Minnesota Senate took up a sequence of largely technical and sector‑specific bills on May 6 and approved several measures across industries.
House File 3709: Digital‑asset custody (passed 51–16). Sen. Cindy Seaburger presented HF3709, which allows banks and credit unions to offer custodial accounts for virtual/digital assets (a 'safe‑deposit' model) provided institutions follow safety‑and‑soundness standards such as written policies on risk management, cybersecurity, internal controls and business continuity. The Senate adopted an amendment (A1) clarifying custodial—not fiduciary—capacity.
Senate File 2373: Labor & Industry (passed 48–18). Sen. Mike McEwen described technical changes from the Department of Labor and Industry, including phasing out legacy Class A electrical installer licenses and establishing an exemption from certain minimum‑wage/overtime rules for minor‑league baseball players under a collective‑bargaining agreement.
House File 4063: School‑bus safety (passed 63–3). The bill updates first‑aid kit requirements for school buses, requires USDOT numbers for school buses and clarifies training authorizations (including behind‑the‑wheel practice on private roads).
House File 4151: Private‑detective licensing (passed 66–0). The measure clarifies corporate applicant requirements, identifies officers who must register and mandates fingerprint submissions to the FBI for criminal‑history checks.
House File 3769: DOC technical corrections (passed 57–9). A short technical bill for the Department of Corrections clarified levels of substance‑use disorder treatment and transfer authority for assessments and stabilization.
Each bill won the necessary votes on the Senate floor and will proceed through the legislative process toward enactment; sponsors emphasized consumer protection, modernization and technical cleanups in each domain.
