CHEYENNE, Wyo.—The state of Wyoming is emerging as leader in enacting legislation around blockchain and cryptocurrences.
Lawmakers from Wyoming have introduced legislation that will allow the issuance of tokenized stock certificates on the blockchain.
“The direct issuance of stocks on the blockchain is getting popularity throughout the world as it is being considered as the future of the stock exchange industry,” noted Coinnouce.com.
House Bill 1085 would permit the use of tokenized digital share certificates in lieu of paper-based versions. If the bill is passed into the law, it would come effect on July 1, 2019.
Meanwhile, legislation has also been introduced in the House that intends to bring legal clarity to the crypto space and would give Bitcoin and other digital currency similar status as money.
This new bill presented offers three different classifications for cryptocurrencies: digital securities, digital assets and virtual currencies. The last one gives cryptocurrencies the same treatment as money in Wyoming, Use The Bitcoin.com reported.
“This would allow digital assets in the market to operate according to the laws of the state. This is also very important for cryptocurrency regulations in the United States. The state could also authorize banks to opt into an enhanced supervision regime specifically designed for crypto custody. The intention is to allow them to meet the requirements imposed by the U.S. Securities and Exchange Commission,” Use The Bitcoin.com said.