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Wyoming HB 19 amends the state’s Money Transmitter Act to exempt virtual currency transactions from licensing requirements. This strategic move lowers entry barriers for crypto businesses, attracting more to Wyoming, but it doesn’t exempt them from federal regulations. HB 19 positions Wyoming as a leader in blockchain innovation.

Wyo. Stat. § 40-22-104 exempts government entities, financial institutions, and virtual currency transactions from specific Wyoming regulations, updated through 2023-2024 to reflect changing financial and tech laws.

Wyo. Stat. § 40-22-102 Current through the 2023 Legislative Session (a) As used in this act:

Wyoming has positioned itself as a trailblazer in the domain of cryptocurrency and blockchain with its progressive Wyoming LLC crypto laws. Key legislation includes HB 19, exempting cryptocurrencies from the Money Transmitter Act, and HB 70, differentiating utility tokens from traditional securities. HB 101 encourages blockchain applications in business, while HB 126 and SF 111 focus on series LLCs and tax exemptions for virtual currencies, respectively. This robust legal framework makes Wyoming an attractive hub for crypto businesses and offers valuable insights into the evolving legal landscape of digital currencies and blockchain technology.

The SEC has adopted Rule 10c-1a, effective January 2, 2024, to enhance transparency in the securities lending market. This rule requires detailed reporting to FINRA, impacting lenders, borrowers, and broker-dealers. It reflects a significant shift from the Proposed Rule of 2021 and introduces operational and compliance challenges for market participants.