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Bitcoin Daily: FDA Pegs Walmart, IBM For Blockchain Pilot; Wyoming State Embraces Blockchain

PYMNTS

In other news, Wyoming — America’s least-populous state — has turned its focus on blockchain, attracting a slew of new businesses as a result. The ethos of blockchain and the ethos of Wyoming are very similar,” said Caitlin Long, co-founder of the Wyoming Blockchain Coalition, according to Wired. “The

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Wyoming Bank Latest to Receive ‘Special Purpose’ Charter

Banking Exchange

Wyoming bank receives digital services charter as controversy over issuance continues Community Banking Feature3 Feature Compliance.

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Bitcoin Daily: Ant Financial Starts Pilot For SMB Blockchain Network; Wyoming Announces Regulations For Crypto Custodians

PYMNTS

In other news, the state of Wyoming has released several new custody rules focused on its special purpose depository institutions (SPDIs) (also known as “blockchain banks”). However, while these companies might be legally based in Wyoming, most aren’t located in the state.

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Bitcoin Daily: BoE Advisor Says Cryptos Fail ‘Basic’ Tests; Wyoming Lawmakers Float Crypto Custody Bill

PYMNTS

In other news, legislators in Wyoming have unveiled a bill that would put forward “an opt-in framework for banks to provide custodial services for digital asset property as directed custodians,” Coindesk reported. In the event that the bill makes it into law, it would consider digital assets to be property under current legislation.

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Bitcoin Daily: US Sanctions Two Russians For Alleged $16.8M+ Crypto Theft; Bahamas' Sand Dollar To Launch; Kraken Gets Go-Ahead For Wyoming Bank Charter

PYMNTS

On another note, digital currency exchange Kraken has received the go-ahead from the Wyoming Banking Board for a special purpose depository institution (SPDI) charter, Coindesk reported. Kraken will be the first newly charted bank in Wyoming as of 2006, Coindesk reported, citing the general counsel for the Wyoming Division of Banking.

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'Just a kid from Wyoming': Caitlin Long fights for regulated crypto

American Banker

Long, founder and CEO of Custodia Bank, has pushed for digital-asset regulation in her home state of Wyoming. Now she's working on a national scale.

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Wyoming creates fintech sandbox

CFPB Monitor

Earlier this year, Wyoming became the second state to create a financial technology (fintech) sandbox by enacting the “ Financial Technology Sandbox Act ” (Sandbox Act). Thus, unlike Arizona’s sandbox, a person receiving a waiver under the Sandbox Act can be exempted from Wyoming’s civil usury laws.

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