Bill Defining Cryptocurrency Passes Wyoming Senate
CHEYENNE, Wyo. (AP) — A bill that would classify digital assets, including cryptocurrency, as legal property passed the Wyoming Senate.
Senate File was approved on 28-1 vote Thursday and now goes to the House for more debate.
Sponsored by Republican Sen. Tara Nethercott, of Cheyenne, the bill would establish property rights for owners of cryptocurrency and other "virtual assets" under commercial law, clarifying the legal status of digital money. It also helps banks hold these assets in trusts.
It would subject cryptocurrency to some of the same rules as money by expanding existing laws.
Right now, most state laws don't provide legal clarity on the status of cryptocurrency under Uniform Commercial Code.