TenX bank cards not to work outside EU

The TenX bank cards holders, who are not residents of the European Union, will not be able to use it anymore
19 September 2017   772

The TenX bank cards holders, who are not residents of the European Union, will not be able to use it after October 16th.

TenX card  
TenX card

Thus, as reported by TenX team, the company does not have a banking license yet, while every active TenX card currently in circulation is issued by a card partner who is actually licensed to issue cards, namely, Wave Crest Holdings Limited. However, WaveCrest informed TenX that they would no longer issue and maintain Visa® Prepaid Cards to cardholders outside of the European territory.

The startup team clarifies that it is already negotiating with other card issuing companies that could provide services to non-EU residents.

It will take us some time to integrate our systems with theirs, and to print new cards issued by these alternative issuers. We’re currently targeting a November 2017 launch for these new cards, so look out for more information regarding this in the coming weeks.

TenX team

For TenX cardholders who are not EU citizens, the company offers to replace it without additional costs, or receive a monetary refund. To do this, you must contact the support via email.

Wyoming Passed Bill Exempting Utility Tokens from Securities Laws

The Wyoming House of Representatives has unanimously approved a bill exempting utility tokens from securities laws  
20 February 2018   82

On Monday, House Bill (HB) 70 passed the House 60 to 0 and will now head to the Senate. The bill exempts utility tokens from securities laws. This will attracts ICO’s launches to the state and will make the state a favorable environment for blockchain startups.

According to the bill, the utility token must meet three conditions:

  1. The token’s issuer must not market it as an investment;

  2. The token must be exchangeable for goods and services, for example, startups must have a working product or service at the time the tokens are issued;

  3. The token’s issuer must not actively make efforts to create a secondary market for the token by entering into a repurchase agreement or agreeing to locate buyers for the token.

It is important to note that there are four more cryptocurrency and blockchain-related bills currently moving through the Wyoming legislature.

HB 19 passed the House of Representatives on Monday and is now awaiting introduction in the Senate. The bill exempts cryptocurrency from the state’s money transmitter act.

HB 101 has passed its second reading in the House and, if it passes its final hearing, will then go to the Senate. This bill will allow companies to create and use blockchains for the purpose of storing records and conducting inter-office communication.

HB 126 has just passed its second reading in the House. It will allow the creation of series LLCs.

Senate File (SF) 111 passed a vote to introduce on Friday and is now headed to a committee hearing. This bill will exempt cryptocurrency assets from state property taxes.