Wyoming lawmakers have proposed an amendment that would allow companies to freely tokenize all or part of their shares and hold them in the blockchain.
The document was named «Corporate tokens of share certificates». If adopted, corporations and legal entities will be able to use digital certificates that provide ownership of shares, instead of their paper versions. Information about electronic securities will be recorded on the blockchain or other verifiable database. Then all information about the ownership of shares will be sent to the issuer, the person who received the token and all legal successors.
The tokenization of things | Matthew Roszak | TEDxSanFrancisco
The text also says that before tokenization, it will be necessary to indicate in the charter the share of digitized shares. To authorize digital certificates, it is proposed to use network signatures (unique identification hashes) of two managers or employees of the company. If changes will be accepted, then the amendment will enter into force on July 1, 2019.
This is not the first legislative initiative of the authorities in the cryptoindustry. Previously, the Wyoming authorities allowed blockchain startups to operate in regulated «sandboxes», and since February 2018, some utility tokens are not classified as securities.
The State Duma also plans to approve the regulation of the cryptoindustry in the near future and again talk about the crypto-ruble.
text: Ivan Malichenko, photo: tsoilcity.blob.core.windows