Wyoming allows insurance companies to invest in cryptocurrencies

According to the US legal industry content aggregation platform Mondaq, Wyoming has recently revised the state ’s insurance regulations to allow local insurance companies to invest in “digital assets”. The new regulations will take effect on July 1 this year. This new rule sets a precedent for the United States. According to the report, Wyoming law defines "digital assets" as "readable assets in the form of computers that represent the economy, ownership, or access rights. It includes consumer digital assets, digital securities, and virtual currency." The new regulations in the state include cryptocurrencies such as Bitcoin and investment contracts, but they do not include consumer digital assets, that is, digital assets used for consumption, such as functional tokens that may be used to purchase goods and services.