CHEYENNE, Wyo.—The Wyoming House Committee on Minerals, Business and Economic Development has unanimously approved the “Financial Technology Sandbox” bill.
The bill states that the state of Wyoming currently offers one of the best business environments in the United States for blockchain and financial technology innovators, and underscores the need for a regulatory sandbox for these innovators to develop the next generation of financial technology products and services.
If passed, the bill will create a program which will allow a person to make an innovative financial product or service available to consumers during a sandbox period through a waiver of existing statutory and rule requirements, or portions thereof, by the commissioner or secretary, TokenPost reported.
Caitlin Long, co-founder of the Wyoming Blockchain Coalition noted that the bill has passed “the most important” step and expects the entire process to be completed before the legislative session ends in March, reported TokenPost