U.S. Senator Cynthia Lummis proposes a new tech bill
CHEYENNE, Wyo. (Wyoming News Now) -U.S. Senator Cynthia Lummis is working on a comprehensive bill to help establish frameworks for digital assets in Wyoming.
Cryptocurrencies like Bitcoin, Stable Coin, and Central Bank Digital Currencies, are the subject of these efforts.
“There have been times in our history where we did things that were truly innovative. This was one of them. So the future is bright for Wyoming, and this is going to become an important aspect and important component of our economy. I’m absolutely sure of it,” said Lummis
The bill will secure the same regulatory agencies as the Securities Exchange Commission and the Commodity Future’s Trading Commission.
They will be the major regulatory agencies that govern these digital assets in Wyoming.
The Wyoming Legislature is currently laying the groundwork to become a leader in these future tech assets.
As our economy develops to accommodate this industry, these structures will be business-friendly and consumer protective.
“Whether it’s mining or custodying Bitcoin, we want to make sure Wyoming’s laws and structure that created a Special Purpose Depository Iinstitutions (SPDI), are alowed to custody assets so that we have a new industry in Wyoming and we can diversify Wyoming’s economy in a sound and solid way,” said Lummis.
The Comprehensive Digital Asset Clarification and Regulation Bill is currently in draft and is anticipated to be finished by February.
Copyright 2022 Wyoming News Now. All rights reserved.