Governance and Regulatory Compliance: Wyoming’s Advantages

Overview of our corporate governance structures and organizational layout. We also examine Wyoming’s modern and thoughtful pro-blockchain legal framework.

States control commercial laws in the US, so the federal government cannot trump what Wyoming has just created. I strongly encourage other states to enact Wyoming’s same statutory language, which you can find

Wyoming

Creating the legal structure recognizes direct property rights for individual owners of digital assets of all types (virtual currencies, digital securities, and utility tokens) and applies the super-negotiability rules of commercial law to virtual currencies — which foster their liquidity — by applying the very same rules that apply to money. Wyoming’s commercial law reflects the true nature of digital assets (directly owned, peer-to-peer assets), and I strongly encourage other states to adopt Wyoming’s same commercial law protections;

Before a consumer purchase or enters into an agreement to receive an innovative financial product or service through the financial technology sandbox, the person making the product or service available shall provide a written statement of the following to the consumer: (i) The name and contact information of the person making the product or service available to consumers; (ii) That the product or service has been authorized to be made available to consumers for a temporary period by the commissioner or secretary, as applicable, under the laws of Wyoming;

Governance

A master limited partnership (“MLP”) is a limited partnership whose limited partnership interests are publicly-traded and referred to as

“common units,” which are analogous to common stock in C corporations.9 The major difference, however, is that C corporations are subject to “double taxation” by which the entity pays corporate taxes and the stockholders pay taxes on dividends, whereas MLPs are exempt from entity-level taxation and, as result, pass on all deductions along with the taxable income allocable to each unitholder

Wyoming Law

Wyoming Money Transmitter Act-virtual currency exemption.

https://www.wyoleg.gov/Legislation/2018/HB0019

https://www.wyoleg.gov/Legislation/2019/hb0057

https://www.wyoleg.gov/Legislation/2019/sf0125

https://www.wyoleg.gov/Legislation/2019/sf0125

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