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Wyoming is first state to grant property rights to crypto holders

Legal

www.chepicap.com 15 February 2019 17:20, UTC
  
Reading time: ~1 m

The U.S. state of Wyoming has granted private property rights to crypto holders. The state's crypto-friendly legislature passed the state finance bill SF0125, and the so-called 'digital assets bill' is the clearest regulatory framework for crypto so far in the U.S.

The bill was first introduced back in January, proposing that all digital assets be properly categorized, and that ownership of cryptocurrencies should be protected under law in a similar way to holding USD is. Now it has been approved, it will become law on July 1.

Read more: Wyoming introduces new bill giving legal clarity to cryptocurrency

The bill breaks down digital assets into three categories: digital consumer assets, digital securities, and virtual currencies. It asserts that all three are protected as "intangible personal property". This legislation now paves the way for crypto companies to operate in the state with a more firm idea of how they can operate.

Read more: Will Bitcoin replace fiat money?


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