Wyoming panel hears SPDI updates and moves to draft reciprocity bill amid concerns over OCC preemption
Wyoming select committee heard operational updates from SPDIs and the Division of Banking, discussed federal OCC trust charters and the Genius Act, and directed staff to draft reciprocity legislation to ease multi‑state money‑transmitter burdens on Wyoming SPDIs.
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Wyoming's Select Committee on Blockchain, Financial Technology and Digital Innovation Technology spent the morning receiving operational updates from special purpose depository institutions and the Wyoming Division of Banking before agreeing to pursue legislation aimed at interstate reciprocity for money‑transmitter licensing.
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