Wyoming Lawmakers Pass Three Bills in Boost for State’s Crypto Industry

The U.S. state of Wyoming has passed several bills aimed to make the state a top destination for cryptocurrency and blockchain businesses. The Wyoming House of Representatives approved bill SF0125 last week, which recognizes digital assets as property and clears the way for banks to act as crypto custodians. The bill passed a House vote 54-2 and was concurred in the Senate a day later, with 29 votes for and none against.The bill defines a digital asset as “a representation of economic, proprietary or access rights that is stored in a computer readable format, and includes digital consumer assets, digital securities and virtual currency.”Once the bill is approved and signed by the state Governor Mark Gordon, it will officially become law effective July 1, and would classify digital assets as property within the Uniform Commercial Code. According to the bill:“Digital consumer assets are intangible personal property and shall be considered general intangibles, as defined in W.S. 34.1 9 102(a)(xlii), only for the purposes of article 9 of the Uniform Commercial Code, title 34.1, Wyoming statutes.”