A bill that aims to classify digital assets, including cryptocurrency, as a legal property passed the Wyoming Senate this week with an overwhelming 28-1 vote and now moves to the Wyoming House of Representatives for more debate.
The Wyoming Tribune Eagle reports the bill was sponsored by Sen. Tara Nethercott, a Cheyenne Republican.
The bill would help establish property rights for owners of cryptocurrency or other virtual assets under commercial law, which would clarify the legal status of digital money. It also helps the bank hold the assets in trusts. There are people out there who are familiar with the concept of cryptocurrency, but there are some who may not have come across this before, which is why directing them to sites like https://beincrypto.com/news/ would be beneficial. Plus, as this industry is constantly changing, you’ll be able to stay on top of everything relating to cryptocurrency.
Currently, state laws do not provide legal clarity for digital money under the Uniform Commercial Code.
More about this bill can be found here.