U.S. State Of Wyoming New Bill Will Allow Blockchain Issue Of Tokens For Stocks

“U.S. state of Wyoming introduces a bill which permits corporations to tokenize company share.”

The bill “Corporate stock-certificate token” will be effective as of 1st July 2019.

According to the bill named “Corporate stock-certificate tokens”, sponsored by representatives Olsen, Brown, Hunt, Lindholm, Western and Zwonitzer and Senator(s) Driskill and Rothfuss,

Corporates will be allowed to issue all or a portion of the shares in the form of certificate tokens.

Source: Wyoleg Government Legislation 2019 HB0185

To qualify, corporate issuing “Certificate token” should meet the following criteria:

– It should be entered into a blockchain or other secure auditable database
– Specify the data address to which the token was issued
– Should be issued or transferred electronically.

In addition, it also needs to be authorized at the time of issuance by two network signatures ‘unique identifying hashes’ designated by the board of directors of the corporation.

Wyoming has been taking several initiatives to provide blockchain startups certainty to flourish and stay in the United States. Just last week, the state approved a bill to let blockchain startups to operate within a regulatory sandbox for a legislative vote.

“Time is not far when all value (money) will be digitalized by the power of blockchain.”