Home / Blockchain / Wyoming passes two new blockchain bills – Blockchain News Today

Wyoming passes two new blockchain bills – Blockchain News Today

According to some reports, Wyoming is one of the states of the United Kingdom
The states have recently approved two new bills in an attempt to encourage adequate
regulatory environment that is favorable / crucial to the digital currency e
Blockchain innovation. This news of the new legislation concerning the Blockchain
in the US state of Wyoming has been reported
by the president of the Wyoming Blockchain Coalition, Caitlin Long. It was done via the Twitter social media platform,
between 10 and 11 January

Bitcoin (BTC) Price today – BTC / USD

At the time of printing, it was the status of one of the proposals
Invoices ie House Bill 62 has been updated on the state of Wyoming
page of the legislature, showing that the new legislation has passed 8-1 and has already been
inserted in a general file for a while. Regarding the official status of
House Bill 57 the second account, no update was
given at the time of printing. It was last updated January 8, after which Long
tweeted today, that Bill 57 has been approved
without splits.

Interested tokens do not require an exemption from the Federal
Read about the titles

Invoice 62 is known as the "ownership of the Wyoming utility token"
amendments. "It is significant to establish a new class of activity,
setting "open Blockchain tokens with unique consumption characteristics like a
intangible personal property. "This definition of House Bill 62 clearly means that these tokens do not need
be exempt from federal titles
legislation. Based on the report, the amendments to the ownership of the Token Act of the Wyoming Utility
invoice clarifies that:

"The open Blockchain
tokens governed by this deed do not constitute titles because a
the individual who sold a worn open Blockchain token can not receive it
cash payments or share of profits from a company or a developer, but it will
receive a fixed sum of consumer services, properties or contents. "

Bill 57: Designed to facilitate an encouraging business
Developer environment

The second legislation is Bill 57 entitled "Financial
technological sandbox. "This bill is related to the formation of a fintech
regulatory "sandbox" (a supervised and flexible test environment that offers
exemptions for some statutes and rules that otherwise would have hindered
innovation. The establishment of this bill aims to facilitate a
encourage the business atmosphere for financial product developers and
services, ultimately attracting the fintech talent in Wyoming.

As per a previous report from 2018, the Wyoming National Assembly passed a bill known as House Bill 70. This law helps to relax the titles
regulations and the transmission of monetary laws for certain tokens provided through ICOs in the state.

Another account of the relative house
it was the Krypton exemption from the Money Transmitter Act in the state
passed from the legislature in March 2018. In addition, an account of the house that
exempts digital assets from the taxation of state properties was approved by the state legislature of Wyoming in February 2018. More
the pro-crypto and blockchain bills were
passed into the state law of Wyoming.

The definition of utility tokens is significant in bringing
Under the legislative control of the state

We can recall from a previous report that Caitlin Long
noted the unfolding of the regulation of virtual currencies in the United States a
federal and state levels. According to her, the definition of which tokens of utility
it should be a new class of activity should be considered significant for their introduction
under the jurisdiction of state legislators, instead of national agencies like
the SEC, CFTC and FinCEN.

Source link