Governor Matt Mead signs Wyoming Blockchain bills into law. (Wyoming Blockchain Coalition) JACKSON HOLE, WYO – While most states are still trying to figure out what it is, Wyoming knows what it wants.
The Cowboy State took a huge techno leap with the passage of bills that make it the nation’s frontrunner in addressing leading technology behind blockchain and virtual currency. Both House Hills (HB19, HB70) and Senate File 111 were signed by Governor Matt Mead last week after breezing through legislative bodies.
They become law on July 1, 2018. The new state laws not only put Wyoming out front when it comes to states specifically defining how digital currency will be addressed, but the laws could challenge current federal policy concerning digital currency.
SEC chairman Jay Clayton and others in DC believe crypto currencies like Bitcoin are investments or security. Wyoming’s House of Representatives just became the first elected body to say, no, blockchain-based tokens are a utility or property, and therefore are exempt from securities laws and taxation.
It’s a huge shot across the bow as far as precedent and business media outlets are all eager to see what happens. Several news stories broke over the weekend with the Wyoming Legislature in their headlines. Read more from buckrail.com…
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