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HB0062 • 2016

Wyoming Money Transmitter Act-digital currency amendments.

AN ACT relating to the Wyoming Money Transmitter Act; amending definitions to exclude the transmission of monetary value and digital currency from the Wyoming Money Transmitter Act licensure requirements; and providing for an effective date.

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor
Representative Miller
Last action
2016-03-02
Official status
inactive
Effective date
Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2016-03-02 Senate

    S Did Not Consider for Introduction

  2. 2016-02-23 Senate

    S Received for Introduction

  3. 2016-02-23 House

    H 3rd Reading:Passed 53-7-0-0-0

  4. 2016-02-22 House

    H 2nd Reading:Passed

  5. 2016-02-19 House

    H 2nd Reading:Laid Back

  6. 2016-02-18 House

    H COW:Passed

  7. 2016-02-11 House

    H Placed on General File

  8. 2016-02-11 House

    H01 - Judiciary:Recommend Do Pass 8-1-0-0-0

  9. 2016-02-09 House

    H Introduced and Referred to H01 - Judiciary 48-10-2-0-0

  10. 2016-02-05 House

    H Received for Introduction

  11. 2016-02-02 LSO

    Bill Number Assigned

Official Summary Text

Summary for LSO115

Bill No.:
HB0062
Effective
:
7/1/2016

LSO No.:
16LSO-0019

Enrolled Act No.:
HEA No. 0001

Chapter No.:
[Chapter Number_RO]

Prime Sponsor:
Miller

Catch Title:
Wyoming Money Transmitter Act-digital currency amendments.

Subject:

Summary/Major Elements:

Comm
ents:

The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill
.

Current Bill Text

Read the full stored bill text 
2016
State of Wyoming
16LSO-0019
Introduced
1.2

HOUSE BILL

NO.

HB0062

Wyoming Money Transmitter Act-digital currency amendments.

Sponsored by:
Representative(s) Miller, Clem, Jennings, Laursen, Lindholm and McKim

A BILL

for

AN ACT relating to the Wyoming Money Transmitter Act; amending definitions to exclude the transmission of monetary value and digital currency from the Wyoming Money Transmitter Act licensure requirements; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.

W.S. 40
‑
2
2
‑
102(
a)
(xiii), (xv), (xviii) and by creating a new paragraph (xxii) is amended to read:

40
‑
22
‑
102
.

Definitions.

(a)

As used in this act:

(xiii)

"Money transmission" means to engage in business to sell or issue payment instruments, stored value

or receive money
or monetary value
for transmission to a location within or outside the United States by any and all means, including but not limited to wire, facsimile or electronic transfer;

(xv)

"Payment instrument" means any electronic or written check, draft, money order, travelers check or other electronic or written instrument or order for the transmission or payment of money, sold or issued to one (1) or more persons, whether or not the instrument is negotiable. The term "payment instrument" does not include
any
digital currency
,

any credit card voucher, any letter of credit or any instrument which is redeemable by the issuer in goods or services;

(xviii)

"Stored value" means monetary value that is evidenced by an electronic record
.
The term "sto
red value" does not include
any stored digital
currency
;

(xxii)

"
Digital

currency
"
means any type of digital representation of value used as a medium of exchange, a unit of accoun
t or a store of value that
is not considered
a centralized currency recognized by the United States government as legal tender. "Digital currency" shall not be construed to include
:

(A)

S
tored value redeemable exclusively in goods or services limited to transactions involving a defined merchant
;
or

(B)

U
nits of value that are issued in affinity or rewards programs and that cannot be redeemed for either fiat or digital currencies.

Section
2
.

This act is effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.

(END)

1
HB0062