Bill > HB0160

This bill, the Digital Taxonomy Act, establishes a comprehensive legal framework for classifying and analyzing digital assets, particularly those operating on distributed ledgers (like blockchain technology). It introduces a "sealed token" classification, which is a digital asset with a specific jurisdictional connection to Wyoming, regardless of its underlying content. The bill creates a detailed analytical system, including a "sealed scope hierarchy" and a "multi-aspect analytical framework," to determine applicable laws and jurisdictional nexus (the legal connection to a place) for these digital assets and their "keyholders" (individuals who control private keys). It aims to provide clarity for courts and businesses by defining terms like "distributed ledger" (a synchronized, cryptographically secured record shared across a network), "consensus protocol" (the mechanism for agreement on transactions in a decentralized system), and various types of "jural relations" (legal relationships) associated with digital assets, such as governance powers and immunities. The act also clarifies that digital assets recorded on distributed ledgers are distinct from those not, and it outlines how various legal regimes, including the Uniform Commercial Code (UCC), can apply simultaneously to these complex digital assets.

Business and Industry

https://www.wyoleg.gov/Legislation/2026/HB0160