In a welcome development for Bitcoin investors and cryptocurrency enthusiasts around the world, the Senate of the U.S State of Wyoming has passed a bill that recognizes cryptocurrency as money and affords it the same status as other legal tenders. With the passage of the bill, Wyoming has reinforced its position as the foremost proponent of the cryptocurrency market and its associated blockchain technology in the United States.
The bill, which was introduced on the 18th of January in the Senate, was passed by a vote of 28-1. Not only is it notable for accepting cryptocurrency on the same lines as fiat money but, it also provides a rare legal clarity to the filed by classifying crypto assets into three namely, digital consumer assets, digital securities and virtual currencies. The bill also recognizes digital assets as legal property and authorizes banks to supervise and hold them in custody in trust funds.
The website for the State of Wyoming’s legislature has suggested that the…
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