Wyoming House Bill (HB0070)
The senate members of Wyoming have passed the third reading of HB0070, which states that certain open blockchain tokens will not be subject to securities laws. Out of the 30 members of republicans and democrats, 27 voted as ‘Ayes’ and 3 voted as ‘Nays’ on March 6th.
The previous reading was passed unanimously by the house members on February 19th. According to the bill status report, HB0070 will now be sent to the governor, Matt Head, for approval or veto. Head will have to sign or reject the bill within three days, otherwise it will become a law automatically. If he vetos the bill, it will be sent to the ‘House of Origin’ with his remarks, but the Senate and House members “may override the Governor’s veto by a vote of two-thirds of the members elected to each body.”
HB0019 & SF0111
Wyoming has a number of cryptocurrency-friendly bills lined up for approval. Wyoming House Bill 19 (HB0019) will protect virtual currencies from the ‘Wyoming Money Transmitter Act’, and allow them to legally operate in the state. It also passed the third reading from the senate members on March 5th, with 28 ‘Ayes’ and 2 ‘Nays’, and will be heading towards the governor. Wyoming Senate Bill 111 (SF0111), which will disallow taxation on virtual currencies, was also passed by all 30 senate members on February 27th.
Other Countries Passing Cryptocurrency-friendly Bills
Mexico recently passed a fintech and cryptocurrency regulation bill before sending it to President Enrique Pena Nieto for approval. According to Fintech Mexico’s president, Francisco Mere, “This will allow better services, better costs and more inclusion.” California introduced an electronic record bill which confirms that, “A record that is secured through blockchain technology is an electronic record.” It is planned to be presented to the committee on March 18th. Arizona also filed a bill which will protect running nodes from government restrictions – it passed the second reading of the senate on February 27th.