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Wyoming Statutes Title 34. Property, Conveyances and Security Transactions § 34-29-101. Definitions

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) As used in this chapter:

(i) “Digital asset” means a representation of economic, proprietary or access rights that is stored in a computer readable format and is either a digital consumer asset, digital security or virtual currency;

(ii) “Digital consumer asset” means a digital asset that is used or bought primarily for consumptive, personal or household purposes and includes:

(A) An open blockchain token constituting intangible personal property as otherwise provided by law;

(B) Any other digital asset which does not fall within paragraphs (iii) and (iv) of this subsection.

(iii) “Digital security” means a digital asset which constitutes a security, as defined in W.S. 17-4-102(a)(xxviii), but shall exclude digital consumer assets and virtual currency;

(iv) “Virtual currency” means a digital asset that is:

(A) Used as a medium of exchange, unit of account or store of value; and

(B) Not recognized as legal tender by the United States government.

(v) “Private key” means a unique element of cryptographic data, or any substantially similar analogue, which is:

(A) Held by a person;

(B) Paired with a unique, publicly available element of cryptographic data; and

(C) Associated with an algorithm that is necessary to carry out an encryption or decryption required to execute a transaction.

(b) The terms in paragraphs (a)(ii) through (iv) of this section are mutually exclusive.

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Cite this article: FindLaw.com - Wyoming Statutes Title 34. Property, Conveyances and Security Transactions § 34-29-101. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-34-property-conveyances-and-security-transactions/wy-st-sect-34-29-101/

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