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Exempts mining, staking and node operation from money transmitter rules
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Exchanges are exempt only when no conversion to legal tender or bank deposits occurs
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Bill progress tracked at 25% with referral to the Committee on Financial Institutions (source: Legiscan)
Wisconsin crypto bill AB471 could exempt mining, staking and exchanges from money-transmitter licensing—read how it affects businesses and developers. Learn next steps.
Wisconsin lawmakers introduced Assembly Bill 471 on Monday to carve out explicit exemptions from state money transmitter licensing for a range of blockchain activities.
The bill text from the Wisconsin Legislative Reference Bureau clarifies that individuals and businesses would not need Department of Financial Institutions (DFI) money transmitter licenses for activities such as crypto mining, staking, node operation and blockchain software development.
Under AB471, exchanging digital assets is exempt when the transaction does not involve conversion to legal tender or deposits to deposit accounts. The proposal aims to reduce regulatory uncertainty for local developers and service providers.
Progress of AB471 Bill. Source: Bitcoin Laws