Legislation looks to ease bitcoin transactions in Wyoming

CHEYENNE, Wyo. (AP) – State legislators have introduced a bill that would make digital currencies, like bitcoin, equal to the U.S. dollar in bank transactions.

The Wyoming Tribune Eagle reports (http://bit.ly/1SAOS9G ) that the bill brought by a bipartisan group of lawmakers would amend the Wyoming Money Transmitter Act to allow digital currencies to be a permissive investment.

Currently, businesses that deal in monetary transactions need to have an equal amount of both bitcoins and U.S. dollars in reserve when doing business in bitcoins.

Under the legislation, those businesses would only need to have bitcoins in reserve in those cases.

The bill’s main sponsor, Republican Rep. Tyler Lindholm of Sundance, says the legislation aims to “level the playing field” for bitcoin and other digital currencies.

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Information from: Wyoming Tribune Eagle, http://www.wyomingnews.com

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