Wyoming passes blockchain bank bill

posted 10 days ago
Despite opposition from the banking industry, the state of Wyoming has passed a blockchain bank bill almost unanimously. The move further cements the state’s welcoming approach to blockchain integration. The legislative committee voted 13-1 approving a bill that allows banks to provide financial services with blockchain-based assets.

According to the new bill, there will be a new type of financial institution, called “Special Purpose Depository Bank” to provide valuable services to blockchain innovators: Authorizing special purpose depository banks to be chartered in Wyoming will provide a necessary and valuable service to blockchain innovators, emphasize Wyoming’s partnership with the technology and financial industry and safely grow this state’s developing financial sector. More blockchain bills are expected to pass in the next year.
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