HB0160

Establishes a comprehensive legal framework for digital assets on distributed ledgers by creating classifications, jurisdictional anchors, and analytical methods for interpreting sealed tokens and distributed ledger digital assets under Wyoming law.

• Defines over 100 terms related to distributed ledger technology, digital assets, and sealed tokens, including concepts such as sealed tokens, distributed ledger digital assets, keyholders, governance tokens, and multi-aspect analysis frameworks. (W.S. 43-1-101, W.S. 43-1-102)
• Establishes legislative findings that digital assets on distributed ledgers require distinct legal treatment through two interdependent asset classifications (distributed ledger digital assets and sealed tokens) and multi-aspect analysis examining multiple legal dimensions simultaneously. (W.S. 43-1-201)
• Sets forth the purposes of the title, including establishing a sealed token framework, providing designations for sealed instruments and jural relations, creating a corpus-and-indicia analysis framework, and promoting legal certainty for digital asset transactions in Wyoming. (W.S. 43-1-202)
• Applies the title to all digital assets operating on distributed ledgers and establishes that distributed ledger digital assets and sealed tokens are characterized simultaneously by their ledger record and their subject matter, with different scope determinations and applicable legal regimes for each asset. (W.S. 43-1-203)
• Establishes a five-tier sealed scope hierarchy governing interpretation: statute scope, sealed lex situs scope, distributed ledger digital asset scope, subject matter scope, and legal regime scope, with each tier operating as a prerequisite to the next. (W.S. 43-1-204 through 43-1-209)
• Provides a multi-aspect framework supplementing the sealed scope hierarchy that allows simultaneous application of multiple legal regimes (property law, contract law, UCC articles, securities law, commodities law, tax law, and others) to the same digital asset. (W.S. 43-1-210, W.S. 43-1-301)
• Establishes Wyoming lex situs for distributed ledger digital assets and sealed tokens when a keyholder with Wyoming nexus (domicile, formation, registration, or licensure in Wyoming) cryptographically controls such assets, designating the keyholder's cryptographic relationship and control capacity as intangible property.