Section 47-2-002 - SURETY BOND OR PLEDGED ASSETS TO COVER POTENTIAL LIQUIDATION OR RECEIVERSHIP002.01 To cover or defray the potential costs of a liquidation or receivership of a digital asset depository, all digital asset depositories shall maintain a surety bond and/or pledge of assets in the amount of one million dollars ($1,000,000.00). 002.01A If a digital asset depository chooses to meet this requirement with a pledge of assets, such assets must be highly liquid assets secured by the United States or an agency of the United States. 002.01A1 Liquid assets are properly held United States currency, and highly liquid obligations of the U.S. Treasury or other U.S. federal agency.002.01A2 Liquid assets may include other investments determined by the Director to be the equivalent of highly liquid obligations of the U.S. Treasury or other U.S. federal agency and determined permissible under safe and sound banking practices.002.01B Any pledge of assets designated to cover or defray the potential costs of a liquidation or receivership shall not also be utilized in the calculation of the minimum reserves required under Neb. Rev. Stat.§ 8-3009, or in the calculation of the minimum capital amount required under Neb. Rev. Stat. § 8-3013.002.02 The Director shall have the discretion to increase or decrease the required monetary value of any surety bond or pledged assets, as may be required to ensure the digital asset depository's continued safety and soundness. In making the determination to require an increase or allow a decrease under this Section, the Director may consider the depository's call reports, examinations, investigations, or any other indicia of financial condition that may provide information as to the depository's ongoing safety and soundness.47 Neb. Admin. Code, ch. 2, § 002
Adopted effective 5/29/2024