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ARTICLE · 13 MARCH 2018

Wyoming Enacts Trailblazing Blockchain And Cryptocurrency Legislation

Wilson Elser Moskowitz Edelman & Dicker LLP
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This corporate structure is used frequently in the blockchain space as well.

United StatesTechnology
Robert Cornish Jr.
Robert Cornish Jr.
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During the week of March 5, 2018, Wyoming passed comprehensive legislation crafted to convince blockchain and cryptocurrency businesses to locate within its borders and avail themselves of what many consider favorable corporate and tax laws. The Wyoming Blockchain Legislation is significant as it represents the first comprehensive effort to address numerous nuances in securities law, corporate law, banking regulation and tax that have to date proven to be barriers to blockchain and cryptocurrency businesses flourishing in the United States. By being an early adopter, Wyoming may now become a jurisdiction of choice not only for sector-specific ventures in blockchain-related technology but also for exchanges of cryptocurrency and the issuance of non-securities "utility tokens" in arenas such as insurance and health care.

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