Crypto Law Profile
Wyoming classifies qualifying open blockchain tokens with consumptive characteristics as intangible personal property and requires developers or sellers to file a notice of intent and $1,000 fee with the Secretary of State before sale.
The Wyoming Utility Token Act is Wyoming’s state-level framework for certain open blockchain tokens with consumptive characteristics. As currently codified at Wyo. Stat. § 34-29-106, the statute treats a qualifying open blockchain token as intangible personal property and places notice-filing, fee, and update duties on developers, sellers, and registered agents before such tokens are made available for sale in Wyoming. The law is effective as a Wyoming statute, but its state filing framework should not be read as resolving federal securities law or the law of other states.
The current statute provides that an open blockchain token constitutes intangible personal property when the token’s predominant purpose is consumptive, the developer or seller did not market it to the initial buyer as a financial investment, and at least one additional statutory condition is satisfied. Those conditions include a reasonable belief that the token was sold for a consumptive purpose, availability of consumptive use at or near sale, a resale restriction until consumptive use is available, or other reasonable precautions against financial-investment purchasing.
Before making a qualifying open blockchain token available for sale, the developer or seller, or the person’s registered agent, must electronically file a notice of intent with the Wyoming Secretary of State and pay a $1,000 filing fee. The notice must include the developer or seller’s name, contact information, and comprehensive details about the token as required by the Secretary of State. The statute also creates a continuing duty to update contact information while the token associated with the notice is actively being sold.
The Act separately addresses facilitators, defined in the statute as persons who, as a business, make covered open blockchain tokens available for resale to the public after purchase by an initial buyer. A facilitator must confirm that a notice of intent has been filed, maintain a reasonable and good-faith belief that the token conforms to the statutory criteria, and take reasonably prompt action to terminate resale of a nonconforming token.
Willful failure by a developer, seller, or facilitator to comply with duties under the Act constitutes an unlawful trade practice under Wyoming law. The Secretary of State may refer suspected violations, or token sales that appear to involve financial investment or fraudulent purposes, to appropriate state or federal agencies for investigation, criminal prosecution, civil penalties, or other enforcement actions.
The 2019 enrolled act that established the current utility-token structure included legislative findings that certain consumptive open blockchain tokens are similar to loyalty programs and are properly classified as intangible personal property under Wyoming law rather than requiring a securities-law exemption. This replaced the earlier 2018 open-blockchain-token exemption approach, and the current Secretary of State notice form states that W.S. 17-4-206 has been repealed.
The statute’s definitions are important to the scope of the law. “Consumptive” refers to tokens exchangeable for, or provided for the receipt of, services, software, content, or real or tangible personal property, including access rights. “Open blockchain token” is defined by creation, recording, and transferability characteristics tied to a digital ledger or database. The statute excludes virtual currency and digital securities from the definition of an open blockchain token.
As of June 9, 2026, the Wyoming Utility Token Act remains codified in the current Wyoming statutes at Wyo. Stat. § 34-29-106. The operative notice-filing system is administered through the Wyoming Secretary of State’s Compliance Division, whose January 2026 form states that the filing is for Wyoming notice purposes only and has no bearing on federal or other states’ laws. This profile is a legal-reference summary for editorial use and is not legal, tax, investment, or compliance advice.
A qualifying open blockchain token constitutes intangible personal property when it has a consumptive purpose, is not marketed as a financial investment, and meets statutory safeguards.
Before sale, the developer, seller, or registered agent must electronically file a notice of intent with the Secretary of State and pay a $1,000 filing fee.
Facilitators must confirm a notice filing, hold a reasonable good-faith belief that the token conforms, and promptly stop resale of nonconforming tokens.
Willful failure to comply with statutory duties is treated as an unlawful trade practice and may involve referrals for civil, criminal, or other enforcement action.
The Act defines blockchain, consumptive use, developer, facilitator, financial investment, open blockchain token, and seller, and excludes virtual currency and digital securities.
HB 0070, the open blockchain tokens-exemptions bill, received its bill number.
Governor signed HEA No. 0027 and the measure was assigned Chapter Number 44.
HB 0062 was introduced and referred to the House Corporations Committee.
Governor signed HEA No. 0100 and the measure was assigned Chapter Number 170.
Section 6 appropriation for administration and enforcement became effective.
Wyoming Legislature, Wyoming Secretary of State
Open blockchain tokens, Utility tokens
Wyoming’s current utility-token statute is a state-law property and notice-filing framework. The Secretary of State’s notice form states that the filing is for Wyoming only and has no bearing on federal or other states’ laws or requirements.
