Wisconsin lawmakers introduce a bill exempting individuals and businesses from money transmitter licenses for mining, staking, and exchanging digital assets. The bill aims to clarify exemptions from the Department of Financial Institutions. It allows for activities like crypto mining, staking, and blockchain software development without needing DFI licenses.

The bill also permits the exchanging of digital assets without the need for DFI licenses if transactions don’t involve converting to legal tender or bank deposits. It further allows for accepting digital assets as payment and custody using self-hosted or hardware wallets. The bill seeks to reduce legal gray areas in state-based crypto regulation.

Sponsored by seven Republican members at the House level and two Republican co-sponsors from the Senate, the bill has been referred to the Committee on Financial Institutions. With a current progression rate of 25%, the bill still needs to pass through one chamber and two more committees before potential enactment.

Read more at Cointelegraph: Bill AB471 Proposes Money Transmitter License Exemptions for Crypto