News Wyoming Lawmakers Introduce Bill For Tokenized Stock Certificates

Wyoming Lawmakers Introduce Bill For Tokenized Stock Certificates


- Advertisment -

January 17, 2019 10:07 PM

If passed, the bill would allow tokenized certificates to serve as immutable legal proof of stock ownership.

On Wednesday, government officials in Wyoming filed a bill that would allow companies to issue tokenized stock certificates on a blockchain platform.

Representative Jared Olsen, along with five other representatives and two senators, filed House Bill 0185, dubbed “Corporate stock-certificate tokens.” If passed, it would amend an existing law to allow the use of tokenized digital share certificates, which are typically issued in paper form.

A stock certificate, also called a share certificate, is usually a written document signed by the corporation issuing the stock. It provides legal proof that the shareholder does indeed own the number of shares specified on the certificate.

The proposed bill would allow companies to digitize stock certificates and store them on a “blockchain or other secure, auditable database.” According to the bill, once that data is uploaded to an “auditable database,” all participants – including the issuing corporation, the person who owns the certificate, and “any transferee” – will have access to the data. The certificates will be authorized and signed “with network signatures” by two officers designated by the board of directors or as otherwise specified in the bylaws. If passed, the law will take effect on July 1, 2019.

Wyoming’s government has proactively developed legislation for digital assets in the past year. In March 2018, the Wyoming legislature passed five bills concerning blockchain and cryptocurrency technology. Last October, Wyoming state officials formed a task force to draft legislation to allow for the development of a bank-like financial institution that supports blockchain companies in the state.

Nathan Graham is a full-time staff writer for ETHNews. He lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Wyoming, Jared Olson or other Ethereum law and legislation news.

Source link


Please enter your comment!
Please enter your name here

Latest news

Make Fast and Secure Trades Using is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when dealing with a decentralized and anonymous currency, but does bitcoin...
- Advertisement -Wyoming Lawmakers Introduce Bill For Tokenized Stock Certificates

Crypto can’t thrive in the real world – but stablecoins can

We can safely say that the hype about cryptocurrencies is pretty much over. The claims of Bitcoin...

How to double your crypto

Most of us have a small gambler deep inside our souls. We love to feel the thrill...

Must read

Make Fast and Secure Trades Using is a Cryptocurrency trading platform that...
- Advertisement -Wyoming Lawmakers Introduce Bill For Tokenized Stock CertificatesWyoming Lawmakers Introduce Bill For Tokenized Stock Certificates

You might also likeRELATED
Recommended to you