Cryptocurrency & Blockchain Bills

With Wyoming, the second US federal agency to speak this week, which wants to prepare for the acceptance of cryptocurrencies and the blockchain industry legal ground. In two bills, the initiators demand, among other things, to legalize cryptocurrencies.

And another state in which the adaptation of Bitcoin & Co is being driven forward. For example, proponents of Bitcoin & Co submitted two draft laws over the last week on the adaptation of blockchain technology.

The two draft laws have been handed down by the House of Representatives and are now on the way to the Senate. If the drafts are approved there, they go on to the governor. The first bill refers to the legality of cryptocurrency related activities. Initially, the initiators demand a legal basis for the crypto trade.

In the first draft, they call for an exemption for cryptocurrencies in the Money Sending Law. They demand that cryptocurrencies be recognized as "digital representations of value" as a "medium for exchange" and "value storage medium".

The second bill refers to the implementation of blockchain technology in state infrastructure. This should make it possible for companies to save their documents on the blockchain.

Wyoming, the new blockchain capital of the world
One of the initiators was optimistic:
"We could become the blockchain capital of the world within a few years - that's a very realistic outlook. Alone in view of the number of companies that contacted us in the last week alone. I do not know if it's an answer to the problems of Wyoming - but it will not hurt. "

Whether Tyler Lindholm is right, remains to be seen. After all, Wyoming is not the first state to engage in the proliferation of blockchain technology. Just recently we reported quite similar moves in Arizona . However, preparing the ground for acceptance of Blockchain technology is certainly not the wrong idea - it will not hurt.