Wyoming passes 3 bills to boost state's crypto industry

posted 3 months ago
The US state of Wyoming has passed 3 bills aimed to make the state a top destination for cryptocurrency and blockchain businesses. The 1st bill states: Digital assets are property, which clears the way for banks to act as crypto custodians. The bill states that digital consumer assets are intangible personal property & a representation of economic rights.

The 2nd bill enables securities to be issued in tokenized form on a blockchain instead of paper. The 3rd bill addresses: “banks have not been banking the [crypto] startups.” It creates “special purpose depository institutions to serve businesses which may not be able to access traditional banking services, including blockchain businesses.” All three bills are currently awaiting signature by the state Governor & expected to become law on July 1st, 2019.
Tags: blockchain, bitcoin, news