Wisconsin Bill Proposes Exemptions for Crypto Businesses from Money Transmitter Licensing

Wisconsin lawmakers are advancing a legislative proposal that could significantly reduce regulatory burdens for cryptocurrency businesses. Assembly Bill 471, introduced by Republican legislators, seeks to exempt digital asset activities like mining, staking, and node operation from state money transmitter licensing requirements.

The bill explicitly protects developers creating blockchain tools and individuals managing self-custody wallets. It also prevents local governments from banning crypto payments for goods and services—provided transactions don't involve conversion to fiat currency. This distinction maintains existing regulations for fiat on-ramps while freeing native crypto commerce.

Referred to the Committee on Financial Institutions, the measure addresses longstanding regulatory gray areas in crypto operations. By delineating clear exemptions, Wisconsin joins a growing cohort of states crafting tailored frameworks for digital asset innovation.