Holy SH*T!!!! Wyoming just passed a bill exempting some crypto from securities laws.
The law becomes the world’s first piece of explicit token legislation.
So basically, this exempts cryptocurrency tokens from security laws so long as they’re not being positioned as investments utilities instead.
The law states that issuers and exchanges offering utility tokens can offer them without having to register as a licensed broker.
This is a big fu**ing deal. The fact that something, anything, has been put into place is a big deal. It gives people a sense of security. Will allow people to know what to expect going forward, but only in Wyoming.
Now that a state is stepping forward and addressing cryptocurrency, other states will have to take notice. If other states do something, the federal government will have to do something.
When the federal government does something, it will legitimize cryptocurrency. And then the floodgates will open.
Wyoming may have just become a haven for crypto investors and businesses. They could become a hub for this industry. That is a big deal as I live close to there.
Well done Wyoming.