The bill will place crypto assets into three categories: digital consumer assets, digital securities and virtual currencies. Any digital assets that fall into those three categories will be defined as intangible personal property, granting virtual currencies the same treatment as fiat money.
The proposed bill also authorizes banks to “provide custodial services for digital assets consistent with this section upon providing sixty (60) days written notice to the commissioner.”
The bill will go in effect on Mar. 1, as stated on the Wyoming legislature website.
With Wyoming passing the bill into law to recognize cryptocurrency as money, other nations around the world still are unclear as to where cryptocurrency falls. Mexico and Denmark still view cryptocurrency as an unregulated asset, whereas Germany and Japan treat cryptocurrency like money.