HB0062 – Wyoming Utility Token Act-property amendments

Phone: 650.723.2465
Fax: 650.725.0253

Type: Regulation
Date: 02/28/2019
Agency: Wyoming Legislature
Jurisdiction: United States Wyoming
Type of Law: State
Status: Existing
Official URL: External link

According to the summary provided by the Legal Services Offices:
“This act classifies certain open blockchain tokens (“utility tokens”) with consumptive characteristics as intangible personal property and provides that these tokens are not subject to a securities exemption.

Grants new oversight and investigatory authority to the Secretary of State regarding utility tokens, including additional required details relating to notices of intent and classifying certain violations of this act as an unlawful trade practice.

Requires a fee of one thousand dollars ($1,000.00) for filing a notice of intent.

Moves provisions enacted in HB 0070 (2018) to a new chapter of Wyoming Statutes relating to digital assets and makes other clarifications to existing law”.