Wyoming Senate Passes Blockchain ‘Sandbox’ Bill

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Wed, 02/13/2019 - 20:03
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Alex Dovbnya
Wall Street veteran Caitlin Long reveals that the fintech sandbox bill is now expected to be signed into law by Gov. Mark Gordon
Wyoming Senate Passes Blockchain ‘Sandbox’ Bill
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Caitlin Long, the Wall Street veteran who spearheads the Wyoming Blockchain Coalition, took to Twitter to share some exciting news with cryptocurrency enthusiasts. The Wyoming Senate has just passed the ‘fintech sandbox’ bill that is expected to be a major catalyst for the growth of the Blockchain industry in the Cowboy State.

The Wyoming Senate

Two bills have gotten the green light

According to Long, two of the eight Blockchain-oriented bills got the green light from the local legislators. The latest bill was passed 27-3, enjoying almost unanimous support in the Senate. Sen. Ogden Driskill, R-Devils Tower, presided over the voting process.

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The bill will shepherd the development of fintech businesses that focus on Blockchain, cryptocurrencies, and other fledgling technologies. Startups will be able to operate within a flexible regulatory sandbox before to test their products and services before applying for formal licensure.   

As reported by U.Today, the Senate passed the very first bill, which was supposed to recognize cryptocurrencies as legal property, on Jan. 31. Thus, Wyoming became the very first state to make such a huge step towards Blockchain adoption.

Luring in Blockchain-powered startups     

The eight bills are supposed to attract Blockchain and other fintech companies to the state. Long earlier claimed that eight prominent Blockchain companies have already shown interest in Wyoming. Such giants as Fidelity and Coinbase are now able to operate in the state without incurring legal issues.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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