Blog

In sum, transforming corporate governance, Wyoming’s HB 101 Bill, enacted in 2018, amends the Business Corporations Act to integrate blockchain for record-keeping and shareholder management, while defining key terms like “Blockchain” and “Certificate token.”

Wyoming’s HB0070 Act introduces a novel legal framework for open blockchain tokens, exempting them under certain conditions from securities and money transmission laws. This summary offers an overview of the key elements of the act.

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.