Wyoming passes 2 pro-cryptocurrency laws, declares cryptos not a security



hello and welcome to the cryptocurrency news channel so basically what we're going to be talking about is Wyoming's passing of two clock chain related bills I think they're going to try to circumvent the sec and since our government shut down the sec isn't let's say working that hard our government sucks so the states are trying to get around it themselves it's not as big as a federal ruling but the state ruling is if they go state by state then I think eventually the federal ruling will actually have to follow it there's two bills the two bills are HB 0 0 6 2 and HB 0 0 5 7 in Wyoming and they were passed unanimously from Wyoming House of Representatives president of the Wyoming blockchain coalition Caitlin Hmong recently tweeted how delighted she was that the bills were passed so the first one is the Wyoming utility token act and it's a property amendment and it's just it's to establish that public blockchain based tokens as their own asset class Congress the US Congress is actually talking about a bill like this I think it will actually get passed as well whenever the government decides to vote on other things besides the shutdown so the bill which is approved by Wyoming's House committee in an 8 to 1 vote outlines that tokens do not need official exemption from America's stringent security laws so it's basically given the middle finger to the sec in Wyoming the second of the two bills HB 0 0 v 7 is named financial technology sandbox this piece of what this piece of legislation will be employed to provide a managed secure testing environment for entities wishing to experiment and develop their blockchain and crypto based business the environment will give regulatory incumbents the ability to Minister waivers on specific regulations which would otherwise hinder innovation with the aforementioned industries so what this does is basically it gives you them a safe testing environment to test projects it's kind of like a infrastructure support for crypto business and crypto blockchains I'm not really sure about the regulatory incumbents waiving specific regulations but I do think especially ico startups they need to be regulated because a lot of them are so I would like ICO still to be regulated but this is really good because it's infrastructure support in the state of Wyoming for cryptocurrency startups and Wyoming's basically signaling to the top thin tech financial technology talent that's for it that it's forward-thinking and Wyoming basically wants to attract business to its stake as Wyoming's mainly made of like mountains and cows at this point so but not to say that's bad because I love Wyoming I mean why all things a beautiful beautiful state is one of my favorite vacation spots but it's not a hotbed for business besides ranching I suppose so it's building a very impressive track record to invite on blockchain enthusiasts there blockchain developers there blockchain business there and I'm pretty sure they will pass in the Senate and they will get signed by the governor so Wyoming is a state you want to look at if you're into blockchain and these two bills hopefully will marry what the US Congress eventually will pass whenever they decide to open up again but the timeline for the US Congress passing these things is probably a lot longer than Wyoming so Wyoming very friendly to blockchain technology and if other states follow I think Congress will eventually be pushed into passing these things as well so that's the news for today check out the free XRP free BTC freedos and free card out on my description also check out my twitter it's also in my description thank you and have a nice day

3 thoughts on “Wyoming passes 2 pro-cryptocurrency laws, declares cryptos not a security”

  1. I think.crypto friendly states like wyomlng can potentially attract other businesses,torisum and other exciting things

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