Wisconsin lawmakers have introduced a proposal that could reshape how cryptocurrency businesses are treated under state law. The measure, Assembly Bill 471, aims to exempt a wide range of digital asset activities from money transmitter licensing requirements.

The proposal has been referred to the Committee on Financial Institutions and is backed by several Republican legislators.

Bill Targets Mining, Staking And Wallet Use

Based on reports, the Wisconsin Legislative Reference Bureau outlines clear exemptions for crypto-related work that usually falls into regulatory gray zones.

Mining, staking, and operating blockchain nodes are among the activities that would not require a money transmitter license. Developers creating blockchain software or tools are also included in the exemptions.

The bill goes further by stating that individuals can keep custody of their own coins, whether through hardware wallets or self-hosted digital wallets, without state interference.

It also seeks to prevent local governments from banning the use of digital assets in payments for lawful goods or services, as long as the transaction doesn’t involve conversion to US dollars or bank deposits.

This distinction matters. While businesses may be free to accept tokens directly, the bill does not cover cases where cryptocurrency is exchanged into legal tender.

That boundary keeps traditional regulatory requirements intact for fiat conversions and custodial services tied to banks.

The status of AB471 Bill. Source: Bitcoin Laws

Another Bill Targets Crypto Kiosks

While Assembly Bill 471 attempts to carve out freedom for certain digital asset activities, another measure, Senate Bill 386, pushes in a different direction.

SB 386 would require anyone

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Author: Christian Encila