New Bill May Give a Green Light to Bitcoin Exchanges in Wyoming
On 9th February, a group of Republican and Democrat representatives and senators, put forward a bill that may end the ban on Bitcoin and other cryptocurrency exchanges in the US state of Wyoming. Bitcoin Ban. Despite the growing acceptance of Bitcoin as a legitimate means of transaction and the increased usage of the cryptocurrency by businesses and customers alike, in Wyoming, as of mid-2014, nearly all trading of not only Bitcoin, but all cryptocurrencies, has almost completely ceased. This is due to the Wyoming Money Transmitters Act that was introduced in Chapter 22 of Title 40 - Trade....
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Lawmakers in the State of Wyoming have proposed a bill to require that cryptocurrency be treated the same as fiat currency under the state’s money transmitter’s act, according to the Wyoming Tribune Eagle. The purpose of the bill is to encourage bitcoin-friendly companies to want to do business in the state. Under the current law, a money transmitter that wants to conduct a bitcoin transaction has to hold in reserve the transaction amount in both fiat and in bitcoin; double the amount being sent. House Bill 26 would only require them to hold the amount being sent. The bill’s main sponsor,....
The new bill would allow crypto banks to get faster approvals for conducting business in Wyoming. As the United States continues to weigh out the best ways to include crypto businesses through an infrastructure bill, the state of Wyoming has taken proactive measures to attract Bitcoin (BTC) miners and other crypto businesses to its local jurisdiction. Wyoming’s crypto-friendly notion comes into light as the state has passed more than 24 bills related to blockchain technology. A recent CNBC report shows that the state has now approved a bill that will allow for “quick approval for new....
The Congress of Colombia has approved a bill that regulates the behavior of cryptocurrency exchanges in the country in its first discussion, taking the first steps to bring clarity to this issue. One of the creators of the bill, Mauricio Toro, a representative of the Green Party, stated that this bill is needed to protect users from Ponzi schemes, giving them security in the crypto world.
Colombia Gets on the Crypto Regulation Road
More and more countries in Latam are realizing the growth and influence crypto and crypto-related businesses are seeing in their territories. Colombia....
The draft bill comes after the government gave the green light to Bitcoin regulation, disregarding the Bank of Russia’s concerns.
A group of Wyoming legislators has introduced a bill that, if passed, would ease a key regulatory burden on money transmitters in the state that work with bitcoin and other digital currencies. HB0026, introduced on 20th January, seeks to add a definition for digital currencies to a list of "permissive investments", or assets like cash or securities that must be held by a money services business equal to the amount of its existing payment obligations, to the Wyoming Money Transmitters Act. The four-page bill excludes virtual currencies like rewards points, and would take effect on....