US State Senators Introduce Bill Exempting Tokens From Securities Laws
US State Senators Introduce Bill Exempting Tokens From Securities Laws
“Twelve Wyoming Representatives and Senators have introduced a bill backed by the Speaker of the House to exempt “blockchain tokens” from “securities and money transmission laws.”
Rep. Tyler Lindholm, a Republican member of the Wyoming House of Representatives, said “Wyoming is stepping up to welcome the blockchain community with open arms,” before further adding:
“We view non-securities blockchain tokens as a new asset class that is neither money nor securities, and therefore believe existing money transmitter and securities regulations should not apply.”
“Wyoming’s consumers will be protected by its strong anti-fraud and consumer protection laws, which we believe are sufficient to deter bad actors from doing business in the state.””