Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Wisconsin bill to exempt crypto businesses from money licenses

Wisconsin bill to exempt crypto businesses from money licenses

CryptoNewsNetCryptoNewsNet2025/09/30 03:36
By:cointelegraph.com

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 license from the Department of Financial Institutions 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.

It also exempts the exchanging of digital assets if the transactions don’t involve the “conversion to legal tender” or bank deposits.

Wisconsin bill to exempt crypto businesses from money licenses image 0
Progress of AB471 Bill. Source: Bitcoin Laws

“Under the bill, neither a state agency nor a political subdivision may prohibit or restrict a person in accepting digital assets as a method of payment for legal goods and services or in taking custody of digital assets using a self-hosted wallet or hardware wallet,” the document reads, adding that:

“The bill also specifies that a person in this state may 1) operate a node for the purpose of connecting to a blockchain protocol and participating in the blockchain protocol’s operations; 2) develop software on a blockchain protocol; 3) transfer digital assets to another person utilizing a blockchain protocol; and 4) participate in staking on a blockchain protocol.”

The bill marks another attempt to reduce some of the legal gray area surrounding state-based crypto regulation. There is still a lack of clear rules across the country for crypto despite increasing adoption.

Wisconsin bill still has hurdles to pass

The bill is sponsored by seven Republican members at the House level, and two Republican co-sponsors from the Senate, and has since been referred to the Committee on Financial Institutions.

According to Legiscan, the bill has a current progression rate of 25%, as it still has to pass through one chamber and two more committees before it could potentially be enacted.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

IoTeX launches the world's first on-chain identity solution ioID designed specifically for smart devices

ioID is revolutionizing identity management for smart devices, allowing DePIN to authenticate devices, protect data, and unlock next-generation application scenarios within a user-owned ecosystem compatible with any blockchain.

IoTeX社区2025/11/25 18:52
IoTeX launches the world's first on-chain identity solution ioID designed specifically for smart devices

Mars Morning News | Last week, global listed companies made a net purchase of $13.4 million in BTC, while Strategy did not buy any Bitcoin last week

Expectations for a Federal Reserve interest rate cut in December have risen, with Bitcoin briefly surpassing $89,000 and the Nasdaq surging 2.69%. There are internal disagreements within the Fed regarding rate cuts, causing a strong reaction in the cryptocurrency market. Summary generated by Mars AI. This summary is generated by the Mars AI model and its accuracy and completeness are still being iteratively updated.

MarsBit2025/11/25 18:41
Mars Morning News | Last week, global listed companies made a net purchase of $13.4 million in BTC, while Strategy did not buy any Bitcoin last week

The covert battle in the crypto industry escalates: 40% of job seekers are North Korean agents?

North Korean agents have infiltrated 15%-20% of crypto companies, and 30%-40% of job applications in the crypto industry may come from North Korean operatives. They act as proxies through remote work, using malware and social engineering to steal funds and manipulate infrastructure. North Korean hackers have stolen over $3 billion in cryptocurrency to fund nuclear weapons programs. Summary generated by Mars AI. This summary is generated by the Mars AI model, and its accuracy and completeness are still being iteratively improved.

MarsBit2025/11/25 18:40
The covert battle in the crypto industry escalates: 40% of job seekers are North Korean agents?

Which targets are Wall Street short sellers eyeing? Goldman Sachs reveals the short-selling undercurrents amid the AI wave

Data shows that short selling in the US stock market has reached a five-year high. However, investors are not recklessly challenging AI giants; instead, they are targeting so-called "pseudo-beneficiaries"—companies that have surged on the AI concept but lack core competitiveness.

深潮2025/11/25 17:27