Wyoming Lawmakers Want Exemptions for ICO Utility Tokens

Lawmakers in Wyoming have filed a bill that, if approved, would exempt some creators and sellers of blockchain tokens from securities regulations.

The bill, which according to public records has a total of 12 sponsors signed on thus far, would exclude “a developer or seller” from the applicable securities laws provided they meet certain conditions. Namely, that the token they’re offering isn’t being offered as an investment and that the token can be exchanged for something – in other words, that it has some kind of utility.

The exemption would also only apply in the event that the seller or developer “has not entered into a repurchase agreement of any kind or 12 entered into an agreement to locate a buyer for the token.” […]

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