<img alt="wyoming.jpg" height="529" src="https://fs.bitcoinmagazine.com/img/images/wyoming.width-800.jpg" width="800"><br><div><div><p>The Wyoming state government has been expanding its status as a hub for crypto and blockchain technology by passing several new bills this February.</p><p>According to Wyoming-based blockchain advocate <a href="https://bitcoinmagazine.com/tags/caitlin-long/">Caitlin Long</a>, the state of Wyoming has recently <a href="https://twitter.com/caitlinlong_/status/1096116466259116032">passed</a> resolution <a href="https://www.wyoleg.gov/Legislation/2019/SF0125">SF0125</a> on February 14, 2019, claiming that Wyoming “law recognizes property rights in the direct ownership of digital assets.” The bill plainly states “that digital assets are property within the Uniform Commercial Code” and goes on to elaborate some of its ramifications.</p><p>Long gave a succinct rundown of the bill’s most salient points, stating that “In other words, you're not forced to own digital securities through an intermediary. Blockchain tech enables direct ownership of assets, and now the law does too.” Since property law in the United States is in the hands of state jurisdiction, this new step is not only safe from the federal government but also can serve as a model for other states.</p><p>“It makes perfect sense that Wyoming is the epicenter of blockchain law in the US,” said Long, a Wyoming native. “That's also why institutional investors, which are prohibited by federal law from directly owning the assets they manage, can rest assured that Wyoming's digital asset custodians are actually solvent.”</p><p>This is not the only accomplishment made by pro-crypto voices in Wyoming, however. On February 2, 2019, the Wyoming State Senate also passed a bill updating the classification of crypto assets, including a clause to formally label them as currencies.</p><p>According to the <a href="https://www.wyoleg.gov/Legislation/2019/SF0125">text</a> of the bill, crypto assets can be considered to have three different statuses for legal purposes: digital consumer assets, digital securities and virtual currencies. All three of these definitions are specifically registered as personal property rather than private property, formally upholding a stance that <a href="https://www.lexology.com/library/detail.aspx?g=37590569-3f6e-4c5e-bd0e-171a178938e9">other</a> <a href="https://www.pwc.com.au/legal/assets/legaltalk-alert-legal-classification-of-crypto-assets-16-october-2018.pdf">jurisdictions</a> overseas and abroad have taken.</p><p>More significantly, however, the bill also further elaborates on the specific terms and conditions for each of these three statuses. In addition to the respective classifications of “general intangibles” and securities, the bill also states that “virtual currency is intangible personal property and shall be considered money.”</p><p>In redefining the legal status of crypto in this way, it formally opens up the possibility for ordinary citizens to treat crypto as an actual currency on a daily basis. This, in turn, could provide the impetus for a more comprehensive tax code or new business use cases.</p><p><a href="https://bitcoinmagazine.com/tags/wyoming/">Wyoming</a> has been cultivating a reputation as a major crypto haven in the United States, in a bid to angle itself as the blockchain hub of the nation. In addition to enabling blockchain into <a href="https://distributed.com/news/legislation-wyoming-could-enable-blockchain-based-stock-certificates">stock certificates</a> with bipartisan support in January 2019, Wyoming has <a href="https://bitcoinmagazine.com/articles/wyoming-passes-bill-secure-banking-relations-blockchain-companies/">also</a> helped make banking laws more friendly for blockchain companies last December. Many Wyoming legislators are evidently, at the very least, sympathetic to making blockchain a new Wyoming industry and further friendliness can be expected in the future.</p></div></div> <p><em>This article originally appeared on <a href="https://bitcoinmagazine.com/">Bitcoin Magazine</a>.</em></p>
B2C2, a cryptocurrency “liquidity provider” and electronic OTC trading magnate, has recently announced that British regulators have given their U.K.-based subsidiary approval to offer the crypto space a new inves...
That didn’t take long.Barely a week after the Chicago Board of Exchange (Cboe) withdrew its application with the U.S. Securities and Exchange Commission (SEC) to list the world’s first bitcoin exchange traded fun...
<p>Although the crypto market’s year-long downturn has yet to reverse, this nascent ecosystem saw a fundamentally positive, likely bullish (price-wise) announcement on Thursday, as a financial services provider refiled a Bitcoin exchange-traded fund (ETF) application to the U.S. Securities and Exchange Commission (SEC). Leading Bitcoin ETF Application Refiled Per previous reports from NewsBTC, one mere week<a href="https://www.newsbtc.com/2019/01/31/vaneck-bitcoin-etf-hopefuls-refile-application-to-u-s-sec/">...</a></p> <p>The post <a rel="nofollow" href="https://www.newsbtc.com/2019/01/31/vaneck-bitcoin-etf-hopefuls-refile-application-to-u-s-sec/">VanEck & Bitcoin ETF Hopefuls Refile Application To U.S. SEC</a> appeared first on <a rel="nofollow" href="https://www.newsbtc.com/">NewsBTC</a>.</p>
<p>During the big crypto rush of late 2017 driving factors were primarily based on fomo and speculation. The following year was a different story as the selloff gathered momentum and inexperienced traders ran for the hills. The serious players stayed in the game and they don’t come much bigger than Nasdaq which is now working<a href="https://www.newsbtc.com/2019/01/31/nasdaq-delves-deeper-into-crypto-to-tackle-market-manipulation/">...</a></p> <p>The post <a rel="nofollow" href="https://www.newsbtc.com/2019/01/31/nasdaq-delves-deeper-into-crypto-to-tackle-market-manipulation/">Nasdaq Delves Deeper into Crypto to Tackle Market Manipulation</a> appeared first on <a rel="nofollow" href="https://www.newsbtc.com/">NewsBTC</a>.</p>
<p>Ever since initial coin offerings (ICOs) became mainstream, regulators, especially the U.S.’ governmental agencies, have sought to make moves against this newfangled form of funding. The crypto assets from these sales are touted as utility-centric, but incumbents have argued that they resemble securities. Jay Clayton, a commissioner at the U.S.’ Securities and Exchange Commission (SEC),<a href="https://www.newsbtc.com/2019/01/28/kik-challenging-sec-anticipated-crypto-ico-court-case/">...</a></p> <p>The post <a rel="nofollow" href="https://www.newsbtc.com/2019/01/28/kik-challenging-sec-anticipated-crypto-ico-court-case/">Why is Kik Challenging The SEC In Anticipated Crypto ICO Court Case?</a> appeared first on <a rel="nofollow" href="https://www.newsbtc.com/">NewsBTC</a>.</p>
<p>This past December, cryptocurrency investors were delighted to hear that lawmakers had put forth a bill – aptly dubbed the “Token Taxonomy Act” – that would change the Securities and Exchange Commission’s 72-year-old definition of securities in order to exclude crypto. If passed, this bill would entirely alter how the industry is regulated going forward and<a href="https://www.newsbtc.com/2019/01/27/attorney-dont-hold-your-breath-on-token-taxonomy-act-that-exempts-crypto-from-securities-laws/">...</a></p> <p>The post <a rel="nofollow" href="https://www.newsbtc.com/2019/01/27/attorney-dont-hold-your-breath-on-token-taxonomy-act-that-exempts-crypto-from-securities-laws/">Attorney: Don’t Hold Your Breath on Token Taxonomy Act That Exempts Crypto from Securities Laws</a> appeared first on <a rel="nofollow" href="https://www.newsbtc.com/">NewsBTC</a>.</p>
<p>The advent of a U.S.-based, fully-regulated Bitcoin (BTC) exchange-traded fund (ETF) has long been a hope for crypto’s most fervent dreamers. Yet, these dreams, deemed quixotic by most, was quashed on Wednesday, as reports arose that the foremost cryptocurrency ETF application was withdrawn from the care of the (partially-defunct) U.S. Securities and Exchange Commission (SEC).<a href="https://www.newsbtc.com/2019/01/23/cboe-withdrawn-bitcoin-etf-filing-avoid-automatic-rejection/">...</a></p> <p>The post <a rel="nofollow" href="https://www.newsbtc.com/2019/01/23/cboe-withdrawn-bitcoin-etf-filing-avoid-automatic-rejection/">CBOE May Have Withdrawn Bitcoin ETF Filing to Avoid Automatic Rejection</a> appeared first on <a rel="nofollow" href="https://www.newsbtc.com/">NewsBTC</a>.</p>
According to Elections Canada, the agency that runs federal elections in Canada, there has been “a growing interest” in cryptocurrency donations. This trend has prompted some political parties to ask for a ruling...
<p>If 2017 and early 2018 were seen as the year(s) of the ICO then 2019 could well be the year for the STO, security token offering, according to latest research from South Korea. Security Tokens Still Need Regulation Initial coin offerings were seen as a great way to launch a project by selling tokens for<a href="https://www.newsbtc.com/2019/01/21/security-token-offerings-stos-could-be-big-for-korean-crypto-industry/">...</a></p> <p>The post <a rel="nofollow" href="https://www.newsbtc.com/2019/01/21/security-token-offerings-stos-could-be-big-for-korean-crypto-industry/">Security Token Offerings (STOs) Could be Big For Korean Crypto Industry</a> appeared first on <a rel="nofollow" href="https://www.newsbtc.com/">NewsBTC</a>.</p>