Greetings from Cheyenne,
We’re a little past the halfway mark of the 64th Wyoming State Legislature Budget Session. This past week, the House of Representatives began working our way through the budget, debating the bill, offering amendments and ultimately passing a first version out of each chamber on Friday.
Both the House and Senate worked their way through budget bills last week, each passing their own versions on Friday. The two chambers will now appoint conferees who will meet and hammer out the differences between the two versions. A final bill will emerge from this meeting and each chamber will take an up or down vote in the next two weeks.
Among the other important legislation drawing attention this session is a series of bills aimed at driving new industries here in Wyoming – virtual currencies and blockchain technology. These technologies offer an incredible opportunity for Wyoming to become an international hub for innovation in the field of financial technology and blockchain technology. This package of bills could bring a cottage industry of cyber security experts, cryptographers, database managers, big data entrepreneurs and virtual currency miners to Wyoming. Wyoming is opening its doors to these innovators and can empower tremendous leaps in technology by welcoming these start-up founders and business owners.
Passionate entrepreneurs from the private sector have come forward to advocate for this cutting-edge technology. And the best part is, empowering this burgeoning industry will not cost the state a dime. Instead, the Wyoming legislature has developed an innovative package of legislation that supports the unencumbered use of virtual currencies. By being the first state to enact such legislation, Wyoming could become a mecca for blockchain companies and other types of LLC’s in search of a friendly place to innovate.
House Bill 70, Open Blockchain Tokens Exemptions, House Bill 101, Electronic Corporate Records, House Bill 126, Limited Liability Companies-Series, and House Bill 19, Wyoming Money Transmitter Act-virtual currency exemption all passed the House last week and await further consideration in the Senate.
As always, I welcome you input at [email protected] or at 307-782-6376.