Wisconsin Bill Seeks to Exempt Crypto Activities From Money Transmitter Laws

Wisconsin lawmakers have introduced Assembly Bill 471, aiming to exempt individuals and businesses from state licensing requirements for various cryptocurrency activities. These include accepting payments in cryptocurrency, using self-hosted wallets, running blockchain nodes, developing software, and participating in digital asset staking and mining. The bipartisan bill emphasizes that state agencies cannot restrict these activities, offering a regulatory framework that could attract more crypto businesses to Wisconsin. This legislative move follows significant events such as the state's liquidation of a $300 million Bitcoin ETF stake earlier in the year and previous initiatives aimed at moderating crypto fraud. Experts believe the bill could establish a precedent for regulatory clarity in other states, though it may not transform existing operations significantly, as many cryptocurrency providers already adhere to federal regulations. The bill is currently under review by the Committee on Financial Institutions.

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