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Wyoming Passes Bill to Recognize Cryptocurrencies as Money

In the United States, the state of Wyoming passed a bill that will allow for cryptocurrencies to be recognized as money on Jan. 31, according to the state legislature website.

As reported by Cointelegraph earlier this month, 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.

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