Nevada is the only state that requires a Bitcoin custodian to have a trust charter. Without a trust charter, we would need to subcustody with a trust entity to serve Nevada citizens, which goes against the principles upon which River is built. We would like to operate in Nevada, and are exploring all options for how to make that work. Unfortunately, we don't have a timeline at the moment.

Thanks. I will research this and contact my legislators so they know this is an issue. Nevada is known for its financial innovation, I think the rule here being applied to bitcoin custodians is inadvertent rather than intentional based on my first look.