Quote
A group of Wyoming legislators has introduced a bill that, if passed, would ease a key regulatory burden on money transmitters in the state that work with bitcoin and other digital currencies.
HB0026, introduced on 20th January, seeks to add a definition for digital currencies to a list of "permissive investments", or assets like cash or securities that must be held by a money services business equal to the amount of its existing payment obligations, to the Wyoming Money Transmitters Act.
The four-page bill excludes virtual currencies like rewards points, and would take effect on 1st July of this year if passed.
As it stands today, a firm working in the state with digital currencies – currently not considered a permissive investment – must effectively maintain double reserves. Companies like Coinbase have previously said that this policy has kept them from serving the Wyoming market.
HB0026, introduced on 20th January, seeks to add a definition for digital currencies to a list of "permissive investments", or assets like cash or securities that must be held by a money services business equal to the amount of its existing payment obligations, to the Wyoming Money Transmitters Act.
The four-page bill excludes virtual currencies like rewards points, and would take effect on 1st July of this year if passed.
As it stands today, a firm working in the state with digital currencies – currently not considered a permissive investment – must effectively maintain double reserves. Companies like Coinbase have previously said that this policy has kept them from serving the Wyoming market.
http://www.coindesk.com/wyoming-level-playing-field-for-bitcoin-with-new-bill/