Wisconsin Bill Proposes Crypto Licensing Exemptions for Mining and Staking

Wisconsin lawmakers are advancing a bill that could reshape the regulatory landscape for cryptocurrency activities. Assembly Bill 471, introduced this week, seeks to exempt individuals and businesses from money transmitter licensing requirements when mining, staking, or developing blockchain software.

The legislation carves out specific protections for crypto users, including the right to accept digital assets for goods and services and the freedom to use self-hosted wallets. Notably, the bill maintains licensing requirements only for conversions between crypto and fiat currency.

Seven Republican Assembly members and two Senators currently support the measure, which now moves to the Committee on Financial Institutions. The proposal faces a potentially challenging path forward, currently showing just a 25% progression rate in the legislative process.