Crypto utility token is a new asset type in the state of Wyoming

The state of Wyoming local government passed several bills declaring crypto tokens to be a separate asset class and to be considered just a property
15 March 2018   665

US government seems keen on adopting new laws in regards to cryptocurrencies. But their asset status is still in question, it seems. The SEC considers them to be securities, CTFC deems crypto to be commodities and FinCEN says that digital assets are still money, albeit in a new form.

Now, the US state of Wyoming proposes a new definition. Local authorities have passed several laws during the end of the week, one of them being the “Utility Token Bill”, which defines crypto tokens as a new class of asset – crypto utility token, which falls under the definitions of property. This put the state in a spotlight, because the notion clearly aims at pushing US Congress at considering transferring cryptocurrency holdings oversight to local authorities, as they are solely responsible at property regulation and taxation.

This could be very positive for the cryptocurrency community if Congress can break the tie and clarify everything. It’s very exciting that Wyoming is the first state to define what a utility token is, setting an example of how this could become a standard under federal law. I do believe the Wyoming approach will work under federal securities law and am optimistic the SEC will agree.

 

Caitlin Long

Сo-founder of Wyoming Blockchain Coalition

 

Also, the other bills passed would, hopefully allow for the crypto exchanges to return to the state, because they now put cryptocurrencies outside of the local money transmitters act. They state's government hopes, that their positive stance on digital currencies and the underlying technology in the future will allow Wyoming to become a crypto hub and attract large players in the field to the state.

Caspian to Launch Crypto Derivatives Trading

Caspian does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x
21 March 2019   81

Caspian, an asset-oriented asset management platform, has launched cryptocurrency derivatives trading.

Thanks to integration with Deribit, Caspian customers gained access to trading in futures and options for Bitcoin and Ethereum. Also, the platform will provide the opportunity to trade indefinite bitcoin-swap.

According to Caspian, the platform does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x.

We are excited to be working with Deribit to make the trading of crypto options and futures possible within the institutional community. Our goal at Caspian is to provide crypto traders and investors the same standard of tools and service that exist in the traditional markets and its great knowing that the team at Deribit is working towards the same high standards.
 

Robert Dykes

CEO, Caspian

Caspian noted that their platform connects to Deribit via an API that supports “large trading volumes with extremely low latency”. The platform also has full access to the book of orders of the crypto-derivative stock exchange.