To the Governor: Wyoming Passes Bill to Exempt Cryptocurrency from Property Taxes; Encourage Use and Help Undermine Federal Reserve Monopoly on Money

CHEYENNE, Wyo. (March 7, 2018) – Today, the Wyoming House unanimously passed a bill to exempt cryptocurrency from property taxes. The proposed law would expand the of use digital currency and help undermine the Federal Reserve’s monopoly on money.

A bipartisan coalition of six senators and representatives introduced Senate Bill 111 (SF111) on Feb. 14. The legislation would exempt “virtual currencies” from state property taxes. The bill defines “virtual currencies” as “any type of digital representation of value that is used as a medium of exchange, unit of account or store of value and is not recognized as legal tender by the United States government.”

If signed into law, SF111 would move toward making virtual currencies, such as Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Zcash (ZEC), on par with paper currency, gold, silver, other coins, bank drafts, certified checks and cashiers checks. In other words, the proposed law would treat cryptocurrency like money for tax purposes.

The House approved SF111 by a 60-0 vote. Last month, the Senate passed the bill unanimously, 30-0. The legislation now goes to Gov. Matt Mead’s desk for his consideration.

Removing tax penalties for holding or using cryptocurrency …

Read more at The Tenth Amendment Center
(The opinions in this article are the opinions of the author and do not necessarily represent the views of Southern Nation News or SN.O.)

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