#Bitcoin Wyoming: The Bitcoin Capital of USA Published 3 months ago on January 21, 2019 By Joyce Lang Share Tweet Lawmakers from Wyoming have introduced legislation that will allow the issuance of tokenized stock certificates on the blockchain. The direct issuance of stocks on the blockchain is getting popularity throughout the world as it is being considered as the future of the stock exchange industry. House Bill 1085 would permit the use of tokenized digital share certificates in lieu of paper-based versions. If the bill is passed into the law would come effect on 1st July 2019. Two other very interesting bills have been passed recently in Wyoming. Wyoming Utility Token Act Property Amendments: The first one is titled the ‘Wyoming Utility Token Act Property Amendments’ or the ‘Bill 62’. It is significant in establishing a new asset class defining open blockchain tokens with specified consumptive characteristics as intangible personal property. This means that the said tokens will not require an exemption from federal security laws. The bill goes on to say that the open blockchain tokens governed by this act do not constitute securities because a person who is sold a consumptive open blockchain token cannot receive a cash payment or share or profits from a developer or business but instead will receive a fixed amount of consumable services, content or property. The Financial Technology Sandbox: Bill 57 is entitled The ‘Financial Technology Sandbox’ which creates a fintech regulatory sandbox. We have seen a couple of such sandboxes arising around the world. For eg, recently Bahrain announced a fintech sandbox. This is essentially a supervised inflexible testing environment that provides waivers for certain statutory and rules that would otherwise hamper innovation. The establishment of this act in Wyoming also reportedly aims to foster a welcoming business environment for the developers of new financial products and services nearby attract fintech talent to the state. Classification of digital assets: Now in the most recent bill, Wyoming also offers three different classifications of digital assets which are digital securities, digital assets, and virtual currencies. This gives things like Bitcoin, the same treatment as money within the state. These classifications are nothing new but the application of these classifications to cryptocurrencies specifically is quite good as it provides regulatory clarity. The bill also means that Wyoming could authorize banks to opt into an enhanced supervision regime for digital asset custody. This would be designed to meet the SEC’s requirements for digital assets. Essentially, this would put a bank at the steering wheel which would mean that we could see the operation in all 50 states. It would mean that bitcoin would have legal status without the involvement of any intermediary. All the above things are building on a whole raft of previous legislation that has come through in 2018 with Wyoming senator and house representative passing things like ‘Bill 70’ which relaxed securities regulations and money transmission laws for certain tokens offered via ICOs in the state. Also, a separate house bill regarding the exemption of virtual currencies from the ‘Wyoming Money Transmitter Act’ was passed late last March as well as a bill exempting virtual currencies from state property taxation in February last year and a slew of further pro crypto and blockchain bills which have already been passed in Wyoming. Cardano moving to Wyoming: Cardano or more specifically IOHK is moving out of Hong Kong and moving to the USA and interestingly they are moving to Wyoming making Cardano, an American company. With this move, we might see other big companies such as Coinbase, Kraken or others also moving to Wyoming which could turn the state into the next silicon valley. Related Topics:ADABitcoinBlockchainBlockchain Technologybtccardanocryptocryptocurrencydigital assetsIOHKRegulationvirtual currencieswyomingwyoming Bill 57wyoming Bill 62wyoming bitcoinwyoming bitcoin regulationswyoming cryptowyoming cryptocurrency regulationWyoming Financial Technology Sandboxwyoming regulationWyoming Utility Token Act Property Amendments Up Next How Proof of Stake is Devastating for the Crypto Space? Don't Miss Bitcoin Still Stays Strong: Gamblers Prove Continue Reading Advertisement You may like Forbes releases top 50 blockchain companies list Token Taxonomy Initiative: Enterprise Ethereum Alliance & Microsoft New assets management dimension: VIP services for big crypto investors Donald Trump policies push Mexico to Bitcoin Delist Bitcoin SV movement continues: Kraken, Bitforex onboard John Mcafee publically challenges Calvin Ayre: Files $800M Lawsuit 1 Comment 1 Comment Pingback: Analysis: What Makes Cardano Different? – BTC News Paper Leave a Reply Cancel reply Your e-mail address will not be published. Required fields are marked *Comment Name * Email * Website #Bitcoin Donald Trump policies push Mexico to Bitcoin Published 2 days ago on April 17, 2019 By Nadja Eriksson Mexico has seen a new all-time high trading volume on localbitcoins. This comes out on the back of the announcement from the Trump Whitehouse that remittance payments of Mexican migrants in the United States of America will potentially be the target of new restrictions essentially ending the possibility of Mexican migrant workers to be able to cheaply send money back home to their families. Mexico adopting Bitcoin: Mexico has been experiencing a massive increase in the number of transactions on localbitcoins. Mexican migrant workers are believed to be exploited by the remittance companies which are charging around 10% fees. What is essentially being discussed here by the Trump Whitehouse is a new tax on these migrant workers. The number that they are currently floating around is a 3% tax on the remittances going from the USA to Mexico. This may not seem super crazy but considering the $33.4 billion which were sent to Mexico in 2018 alone, that extra 3% could mean $1 billion more per year for the United States government. 98% of the transactions that were sent during the last year, were sent via electronic means which means that there is actually a very strong remittance route that is ready for mass disruption going from the United States to Mexico and Bitcoin could be the perfect answer. However, the average size of a remittance payment from the United States to Mexico is $322 last year and the problem is that if the fees rise again exponentially on bitcoin, then bitcoin might not be the ideal cryptocurrency for these kinds of smaller remittance payments. Maybe we are going to see some other cryptocurrency being adopted in that situation. But regardless of which cryptocurrency is used, we can see that there is a clear need for disruption as government policies again seeks to impede or overly exploit the free float of money. Continue Reading #Bitcoin Bitcoin Crashes Downwards: Is BTC Going to Fall Back to $4000? Published 1 week ago on April 11, 2019 By Nadja Eriksson Bitcoin fell down to test the $5000 support level which is the most crucial level for BTC currently. The downward correction started after bitcoin tested the $5500 resistance level yesterday at around 18:00 UTC. The resistance around $5500 proved very strong and pushed the price downwards sharply. The sharp declining pattern attracted a lot of sellers which even pushed the price below $5200 support level and BTC tested the $5000 support reaching up to $5018. BTCUSD Price Chart- Coinbase Bitcoin is currently trading around $5070 (at the time of publication) showcasing a bearish pattern. Bitcoin Price Drop: The sudden price drop has led to people speculating that BTC might soon crash back to the $4000 range. Earlier, analysts were also predicting the sudden rise of bitcoin to be a conspiracy. Also, Bloomberg had also called the sudden rise a Blip. If BTC had successfully crossed over the $5500 range, the next major resistance was around $5800, however, BTC fell sharply losing more than $400 in value over the last 24 hours. The bearish move does not clearly indicate a crash towards $4500 and $4000 range, however, if the current major support around $5000 is broken, BTC might really crash to $4500 and $4200 support levels. With the price of bitcoin falling, other major altcoins are also in the red zone today with Ethereum falling more than 8% in the last 24 hours, XRP falling more than 6% and Litecoin falling around 12% in the last 24 hours. Continue Reading #Bitcoin China to completely ban crypto mining: Bitcoin about to Crash Hard? Published 1 week ago on April 10, 2019 By Layla Harding As reported by Bloomberg, China is moving towards putting a complete ban on mining cryptocurrencies such as bitcoin. In accordance to a document posted by the National Department and Reform Commission of China, the mining of cryptocurrencies should be completely banned as it causes serious wasatage of resources. China is known to be the largest hub of cryptocurrency mining with huge mining rigs been set up in the country. Earlier, China has also banned small investors to invest in security token offerings or STOs and only large investors with more than $1 million funds are allowed to invest in such projects. Now, the country is planning to take strict action against cryptocurrency miners in the country. Cryptocurrency miners were earlier attracted to China due to their cheap electricity rates and subsidies in the country, however, due to the strict actions being taken by the government with the guidelines of the NDRC which has disincentivized cryptocurrency mining, a lot of miners have shut down their operations or moved to other nations. Largest Mining Pools in China: China has been a hub for some of the largest cryptocurrency mining polls. Even though the mining pools have been shifting to other countries, there has been some effect of the ban on the market for bitcoin and other cryptocurrencies as the mining is a major part of the overall working of cryptocurrencies. How do you think the complete ban on cryptocurrency mining in China will effect the bitcoin price? Tell us in the comments section below. 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