State of Wyoming Passes law making cryptocurrency currency (fiat).
This article by @shortsegments describes this recent good news!
Per the article:
”The United States is made up of 50 “ States” or distinct geographic area with limited Stste level governance. The state of Wyoming lawmakers passed a new law on January 31st, 2019. This new law goes into effect March 1, 2019. The law says cryptocurrencies are recognized by the government in Wyoming as fiat or currency.”
“The new law divides crypto assets into three categories: digital consumer assets, digital securities and virtual currencies. Any digital assets that fall into those three categories will be defined as intangible personal property, granting virtual currencies the same treatment as fiat money.”
“This means that Wyoming becomes the first of 50 U.S. states to put cryptocurrency on the same level as fiat. This means it can be used in all payments to the state.”
“The law also authorizes banks to ”...provide custodial services for digital assets consistent with this section upon providing sixty (60) days written notice to the commissioner.”
“This is another step forward in the mass adoption of cryptocurrency.”
References
https://cointelegraph.com/news/wyoming-passes-bill-to-recognize-cryptocurrencies-as-money
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