Wyoming Congressional Blockchain Committee Conduct First Meeting, Digitally

Financial Technology and Digital Innovation technology, which is Wyoming’s Select Committee on Blockchain, gathered with full strength, although online, on May 22.

The program was announced on May 17, after the new select committee was formed by the earlier Blockchain Task Force. It is the first meeting of the committee.

In the virtual meeting, Chairman Chris Rothfuss gave his opinion on the new powers of committee:

“This is a select committee that is able to sponsor its own legislation. In the past, it was a task force that was not able to.”

Nevertheless, being a task force, a select committee does not have an endless life span. Leaders who discussed with the committee via Zoom include Wyoming’s Division of Banking and Secretary of State, and also industry players like Marco Santori, who recently took the position of chief legal officer in Kraken.

The meeting was mainly centered on digital property rights, but committee members looked at broader objectives, mainly considering the Covid-19 pandemic.

Representative Jared Olsen evinced curiosity in “Anything that we can do as our emergency orders come out, to allow us to interact and interface with our government more easily.”

Even though Wyoming has very little population among the 50 US states, still, it plays a major role in cryptocurrency regulation.

Albert Forkner, Commissioner of the Division of Banking, detailed on Wyoming’s part in the US:

“At times Wyoming is a flyover state, and a lot of times I prefer that, because it gets us off the radar of federal bureaucracy.”

In crypto sector, Wyoming has taken the lead in forming an opinion among the US regulators. The state legalized cryptocurrency as a form of money last spring, prompting several debates.