United Montana “Recognize passwords as utility token”

The United States of America has passed a new bill that excludes the existence of cryptographic money from securities as a utility token. Whether a particular encryption fee corresponds to a security is controversial in the United States.

The new law says that the utility cotton definition is a digital device that can be written to a block chain and exchange and trade without a third party. It is issued so that the token holder can access the goods or services provided by the publisher without receiving property rights and dividends.

According to the bill, utility token transactions are prohibited for the purpose of speculative investment and must meet as many requirements as consumers who are concerned about receiving service or content offerings are considered primary.

Utility tokens are exempt from state securities laws, but token issuers still need to consult with the Securities and Exchange Commission and notify them of their intention to sell these tokens.

This law will be implemented on July 1. With the passage of the bill, Montana, Wyoming, and Colorard have joined forces to develop a policy that is password-friendly. In January, Wyoming passed a bill to recognize cryptography as money. Later, Kolora admitted to deducting cryptography from digital token laws, allowing businesses operating with digital tokens to meet their licensing requirements. For more information, please click here .