Wyoming Lawmakers Seek 'Level Playing Field' for Bitcoin
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....
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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,....
MasterCard has spoken out against bitcoin's perceived risks and called for regulators to create a "level playing field" for payments systems. The statements were made as part of an ongoing Australian inquiry into digital currencies, headed by the Senate Standing Committee on Economics. In a document, the credit card company argues that all financial services should be held to the same standard, stating that it is imperative all consumers and merchants are able to conduct business and commerce in a way that is safe and simple for all. The statement says: "It is our view that all....
“We want to make sure that we believe that if all things are equal, we win," said Mayor Francis Suarez. Francis Suarez, who has served as the mayor of Miami since 2017, wants to make the city the most attractive in the United States for those in the crypto and blockchain industry.In an interview with Forbes published Sunday, Suarez said lawmakers in Miami were looking into the policies of crypto-friendly areas like Wyoming and New York in an effort to promote regulatory incentives for crypto and blockchain in Florida. “[Miami is] making sure that we have the most progressive crypto laws,”....
Avanti Financial CEO Caitlin Long said the bill had its own pros and cons, but it was “definitely a conversation-starter” for lawmakers exploring stablecoins. Four members of the Wyoming Legislature have sponsored a bill that would allow the state treasurer to issue a stablecoin.On Thursday, Wyoming state Senators Chris Rothfuss and Tara Nethercott with House Representatives Jared Olsen and Mike Yin introduced Senate File SF0106, titled the “Wyoming Stable Token Act.” If signed into law, the bill would authorize the treasurer to issue a U.S. dollar-pegged stablecoin redeemable for fiat....
After rumors of Coinbase not working for users located in Wyoming, Coinbase has since come out with an announcement that they will be indefinetly suspending service to users in Wyoming. This comes from an issue with The Wyoming Division of Banking in which recently communicated regulatory policy causes uncertainty for the legality of digital currency operations. Coinbase, in their post stated: “Although we strive to provide continuous access to Coinbase services, Coinbase is indefinitely suspending its business in Wyoming. The Wyoming Division of Banking has recently communicated....