Cryptocurrencies like money

Cryptocurrencies like money

Febbraio 2, 2019 0 Di Stefano Romoli

In the United States, Wyoming has approved new legislation that will allow cryptocurrencies to be recognized as money. The bill was presented on 18 January, in order to clarify the nature of these financial instruments.

In particular, the law will divide digital currencies into three distinct categories: digital consumer assets, digital equity, and virtual currencies. Any digital asset that falls within one of these categories will be considered a personal and immaterial property, in fact granting the same treatment of traditional money to cryptocurrencies.

The legislation also authorizes local banks to “offer custody services for digital assets consistent with this section”. The new law will officially come into effect starting March of this year.

Although Wyoming has made great strides towards digital coin adoption in recent months, the legal situation in the rest of the world is less clear. For example, in Mexico and Denmark cryptocurrencies are still considered as non-regulated goods.