Wisconsin bill to exempt crypto businesses from money licenses

A new bill in Wisconsin could exempt local crypto users and businesses from money transmitter licenses, boosting mining, staking, and blockchain development.

Wisconsin lawmakers have introduced a bill on Monday that, if enacted, would exempt individuals and businesses in the state from requiring money transmitter licenses to participate in mining, staking and exchanging digital assets.

According to a document from the Wisconsin Legislative Reference Bureau, the bill seeks to clearly define exemptions from requiring a licence from the Department of Financial Institutions (DFI) for money transmission-related activities.

Under the proposed exemptions of Wisconsin Assembly Bill 471, individuals or businesses would not need DFI licences for crypto mining, staking and developing blockchain software. 

Read more