RATE Group | Insurance companies in Wyoming can soon invest in cryptocurrencies
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Insurance companies in Wyoming can soon invest in cryptocurrencies

17 Apr Insurance companies in Wyoming can soon invest in cryptocurrencies

Posted at 01:59h in Cryptocurrency News by

  • A new law passed in Wyoming allows insurance companies to invest in cryptocurrencies. 
  • It is the first state in the US to allow companies to do so and the law will be effective from July 1, 2020.

Wyoming Governor, Mark Gordon, has recently signed a law that will allow insurance firms to invest in cryptocurrencies such as Bitcoin. The state authorities have amended the state’s insurance code to make it possible for domestic insurance firms to invest in digital assets.

Caitlin Long, the co-founder of the Wyoming Blockchain Coalition and a long-time Wall Street veteran, recently tweeted: 

YES! Insurance cos in #Wyoming will be able to invest in #bitcoin & #crypto as of 7/1/2020 (this was recently signed into law by @GovernorGordon). Most likely, insurers will offer this as part of variable life policies rather than whole life since NAIC capital charge will be high. -@CaitlinLong_

According to an earlier BTCManager report, Wyoming authorities first…

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