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   738

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.

Casa to Launch Lightning Node Mobile App Called Sats

Casa to Launch Sats App With Lightning Network Support
04 July 2019   1008

Casa startup, specializing in the creation of secure storage systems for private keys, introduced a mobile bitcoin application Sats App, which makes it easy to manage Lightning-node.

Sats App is positioned as a non-custodial bitcoin wallet "with unique functions." According to Casa CEO Jeremy Welch, the SatsBack reward program will soon be launched, under which users will receive small amounts in BTC. For example, for connecting an application and a Casa Node device to each other, the user will receive 20,000 Satoshi.

Features are focused on increasing adoption of bitcoin and lightning nodes. You will be able to earn bitcoin if you don’t have a Casa node, but you will be able to earn bitcoin faster if you have a node.
 

Jeremy Welch 

CEO, Casa

He also added that the application, available for iOS and Android, is “secure, private and connects via Tor”.

According to CoinDesk, the startup earlier raised $ 3.5 million from Castle Island Ventures, Boost VC and Compound, and several other investors. Currently, a startup staff of 25 people serves users from 60 countries.