# kaal:claim:3936876-025

**Claim.** Wyoming special purpose depository institutions may obtain FDIC insurance but are not required to, because they are prohibited from making loans with customer deposits of fiat currency.

**Type.** mechanism  **Support.** asserted

**Holds when.**

- Wyoming SPDIs under HB 74

**Source quote.**

> SDPIs can obtain insurance from the Federal Deposit Insurance Corporation (FDIC), but they are not required to because they are prohibited from making loans with customer deposits of fiat currency.

**From.** Wulf A. Kaal, Hayley Howe, *Custody of Digital Assets* (2021), III.1 Depository Institution Requirements, page 22

**Cite as.** Wulf A. Kaal, Hayley Howe, Custody of Digital Assets (2021). SSRN: https://ssrn.com/abstract=3936876

**Verify.** sha256 of source PDF `9bc0903d01910460298e754c451f027df4324367359800a98ee8e638d94aff55` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Howe%20-%202021%20-%20Custody%20of%20Digital%20Assets.pdf

**Topics.** governance-design, systemic-risk

**Keywords.** spdi, wyoming, fdic-insurance, deposit-taking, bank-charter

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