Read the full stored bill text
25LSO-0086
2025
STATE OF WYOMING
25LSO-0086
Numbered
2.0
SENATE FILE NO. SF0066
Digital ledger filing system development.
Sponsored by: Select Committee on Blockchain, Financial Technology and Digital Innovation Technology
A BILL
for
AN ACT relating to the office of the secretary of state; requiring the University of Wyoming center for blockchain and digital innovation in collaboration with the secretary of state to develop a blockchain or other distributed ledger filing system; providing recommendations for the filing system; providing definitions; authorizing the promulgation of rules; creating an account; providing a funding source for the account; providing an appropriation; and providing for an effective date.
Be It Enacted by the Legislature of the State of Wyoming:
Section 1
.
(a)
Subject to subsection (c) of this section, the University of Wyoming center for blockchain and digital innovation in collaboration with the secretary of state shall develop a filing system through which all required filings, as defined in paragraph (d)(iii) of this section, may be submitted and:
(i)
Blockchain technology or other distributed ledger technology shall be the technological framework for the filing system. This may include an application programming interface, security measures, authenticated digital corporate identity and other components determined by the secretary of state to be best practices and likely to increase the effective and efficient administration of the laws of this state;
(ii)
To the extent reasonably possible, the filing system shall be designed to accept existing and future blockchain or other distributed ledger technology-based filings including a digital asset lien registry, digital identity registration and digital asset registration;
(iii)
The University of Wyoming center for blockchain and digital innovation may develop a blockchain or other distributed ledger technology for the purposes of this section or contract for the use of a privately created blockchain or other distributed ledger technology as necessary.
(b)
The University of Wyoming center for blockchain and digital innovation and the secretary of state may:
(i)
Consult with interested parties before developing the filing system required by subsection (a) of this section, including businesses, registered agents, attorneys, law enforcement and other interested persons; and
(ii)
If necessary, partner with technology innovators and private companies to develop necessary components of the filing system.
(c)
The secretary of state may allow for the testing and implementation of the filing system developed pursuant to this act at the secretary's discretion. Nothing in this act shall require the secretary of state to implement the filing system developed pursuant to this act.
(d)
As used in this section:
(i)
"Application programming interface" means a computer software intermediary or protocol that allows two (2) or more distinct software applications to interact;
(ii)
"Blockchain" means a digital ledger or database that is chronological, consensus-based, decentralized and mathematically verified in nature;
(iii)
"Required filings" means all documents, reports, data and other information required by law to be filed with the secretary of state pursuant to title 17, title 34.1, title 34 or title 40 of the Wyoming statutes.
Section 2.
The secretary of state may adopt rules to implement this act.
Section 3.
(a)
Beginning on April 1, 2025 the first two million dollars ($2,000,000.00) collected under W.S. 17-16-1630 shall be deposited in the digital ledger filing system account which is hereby created.
(b)
There is appropriated two million dollars ($2,000,000.00) from the digital ledger filing system account to the University of Wyoming center for blockchain and digital innovation for developing the filing system required by this act. This appropriation shall be for the period beginning with the effective date of this act and ending June 30, 2027. Funds from the account will be distributed quarterly as they become available until the full amount appropriated under this subsection is distributed. This appropriation shall not be transferred or expended for any other purpose and any unexpended, unobligated funds remaining from this appropriation shall revert to the general fund on June 30, 2027.
Section 4
.
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
SF0066