The State of Wyoming recently introduced and passed bills advantageous for cryptocurrency industries.  Have a conversation with our attorney experts on cryptocurrency to find out how you or your company might benefit from these new bills outlined below.

Cointelegraph: Wyoming Introduces New Bill To Exempt Crypto From Property Taxation

February 16, 2018, a bill was introduced and passed in Wyoming that would make all virtual currencies exempt from state property taxation. With taxation on cryptocurrencies currently a “grey area”, they are still subject to federal property and payroll taxes. This new bill could be a game changer if other states choose to follow Wyoming and exempt cryptocurrencies from being taxable by the state.

CCN: Wyoming House Unanimously Passes Bill Exempting Utility Tokens from Securities Laws

Wyoming also leads the way in passing an exemption for utility tokens from state securities regulations. These utility tokens are thought to be an important part of what attracts initial coin offering (ICO) launches to the state. To be counted as a utility token, the token will have to meet certain guidelines. This is just one of the five bills related to cryptocurrency moving through the Wyoming House and Senate currently, drawing a lot of attention for those looking for ways to capitalize on these new turn of events.