Wyoming exempts the crypto currency from the status of securities

The Wyoming House of Representatives unanimously approved a bill that exempts digital currencies from the Securities Act.

Thus, the region has become quite a favorable environment for the creation of block-start-ups and other projects related to cryptor.

Currently, the bill approved by local authorities was sent to the Senate, where his fate will be decided.

Three conditions for exclusion from the Securities Act

According to the text of the bill, the product will be classified as an "open block-token" if it meets three conditions. First, the developer or issuer should not distribute it as an investment.

Also, at the time of the release of the token, there must be a working product or service to which it can be exchanged. The third condition is the lack of active promotion of the token to create a secondary market, reports CCN.

Consideration of this bill began in end of last year, then he was signed and twelve guarantors.

Author: Vasilisa Ming, Analyst Freedman Club Crypto News

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