Wyoming senators introduce bill to make Bitcoin legal money

posted 7 months ago
Wyoming is introducing a bill that will put cryptocurrency like Bitcoin on the same legal footing as money. The proposed bill titled “Digital assets-existing law” calls for the proper classification of digital assets, especially for custody administration, as the bill also seeks to create a legal framework for virtual asset custody via banks instead of other financial institutions.

According to the bill, virtual assets fall under three categories: securities, assets, and currency. The bill sponsors believe that cryptocurrencies like Bitcoin fall under the currency category giving them the same legal status as money.
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