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The Cowboy State is continuing its efforts to welcome blockchain and crypto startup, most recently by approving a bill to allow blockchain startups to operate a "sandbox" legislation for a legislative vote.
The Wyoming House Committee for Minerals, Economic and Economic Development approved unanimously his financial technology sandbox bill on Friday. The bill, if approved, would authorize the state to allow startups to test new technologies and determine how they could operate within existing regulatory regimes.
This includes start-up blockchain, based on your bill.
Caitlin Long, co-founder of the Wyoming Blockchain Coalition, noted that the state "already has an efficient regulatory approach compared to most other states".
Many of the other states in the United States "can be very heavy" with regulations, particularly with regard to financial services, said Long to CoinDesk, adding:
"The Wyoming sandbox offers a one-year alternative to innovators and can be extended for a second year.This is a long runway for disrupters trying to try new things."
While the bill was approved by the committee, this is only the first of the 13 steps, long noted, "although probably [it is] the most important."
The legislative session is expected to end in March and anticipates the entire process under way in that time frame.
While the sandbox bill has passed the first hurdle, the depositary bank account for special purposes, which Long has called "the signature", will not be voted until January 18th.
Wyoming / U.S .. photo of flags via Shutterstock
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