Benjamin Sauter Discusses Wyoming Cryptocurrency Laws and Federal Regulation in Wired
June 13, 2019
Kobre & Kim’s Benjamin Sauter brings his experience and insights in regulatory issues facing the cryptocurrency industry to discuss Wyoming’s new crypto-friendly state laws – and their potential to be emulated on a federal level – in Wired.
Wyoming has enacted 13 blockchain laws, engineered by cryptocurrency lobbying groups in response to the absence of clear federal rules. Their legislation exempted certain digital tokens from state securities rules, and exempted cryptocurrency from state property taxes. While transformative for the state, the multi-jurisdictional, “sans borders” nature of blockchain and its transactions will continue to be a challenge for those in the industry. Many are wondering if Wyoming’s laws could create a viable path towards more favorable federal regulations.
“I’m skeptical that many of these ideas will gain traction at the federal level,” said Sauter. “I don’t see the political will for it.”