20/02/19 07:48 UTC-4

Bill: in Wyoming cryptocurrency is recognized as "licensing property"

In the US state of Wyoming, a cryptocurrency bill was passed. Local authorities said they were going to make the state "the main destination for cryptocurrency" and the center of development of the business blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
, as reported by the CoinDesk news agency.

Last week, the House of Representatives of Wyoming approved SF0125 bill, which recognizes digital assets as "personal property." The bill opens new opportunities for banks, which can now act as a repository of digital assets.

Interesting in the section: xRapid payment system. Cryptocurrencies and banking


Cryptocurrencies in Wyoming: state bills

The cryptocurrency bill successfully passed the vote in the House vote 54-2 and was approved in the Senate a day later – 29 votes "For" and not a single vote "Against".

The bill defines a digital asset as: "Cryptocurrencies, a digital asset is the granting of economic, property rights or access rights that are stored in a machine-readable format and include digital consumer assets, digital securities and virtual currency."

According to the message, as soon as the bill is approved and signed by Governor Mark Gordon, it will officially come into force on July 1 of this year. The new bill will classify digital assets as property under the Uniform Commercial Code of Wyoming.

From the text of the bill SF0125: "Digital consumer assets are intangible personal property and should be treated as total intangible assets, as defined in WS 34.1–9–102 (a) (xlii), only for the purposes of article 9 of the Unifiorm Commercial Code, section 34.1, of the state of Wyoming."

Interesting in the section: Qash as a liquid digital asset

The bill SF0125 also includes regulations that allow banks to provide storage services for digital assets. Conditions for the storage of crypto in banks: "compliance with all accounting standards, internal controls and other standards."

The Wyoming bill identifies cryptocurrency as "personal property". Recall that for the first time a draft bill was presented last month by a bipartisan group of state legislators.

Editor: Yulia Krasnaya

See also: "Elon Musk: Cryptocurrency is better than a piece of paper!"

#cryptocurrency #bill #Wyoming #USA #bill



23/08/19 22:00 UTC-4

Out: Libra founders are preparing an "escape" from the project

​The Libra Association (the organization that should develop Facebook’s cryptocurrency) has 28 members. They include such giants as Visa and Uber. Now at least 3 members are trying to get out of the project because of criticism from regulators.