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A bill allowing companies to issue tokens based on a chain of blocks representing shares was introduced in Wyoming on Jan. 16, according to the official website of a state legislature.
House Bill 185 is sponsored by representatives Olsen, Brown, Hunt, Lindholm, Western and Zwonitzer, and Senators Driskill and Rothfuss. If pbaded, the bill will come into force on July 1, 2019. The current bill states:
"The articles of incorporation or by-laws of a corporation may specify that all or any part of its shares may be represented by certificates of stock in the form of certificate tokens."
The bill lays the foundation for storing the so-called certificate tokens representing the stocks in a string of "or other secure and auditable database" and allows for their digital transfer.
As Cointelegraph recently reported, Wyoming has pbaded two new domestic bills aimed at creating a regulatory environment conducive to innovation in cryptocurrency and blockchain. One of the bills establishes a new badet clbad, defining "open block chain tokens with specified consumption characteristics". [as] intangible personal property. The other bill concerns the creation of a fintech regulatory "sandbox", a supervised and flexible test environment that provides for exemptions from certain laws and rules that would otherwise impede innovation.
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