In the United States, the state of Wyoming has passed a bill that will allow for cryptocurrencies to be recognized as money on Jan 31, 2019 according to the state legislature website.

On Jan. 18, 2019 Wyoming legislation presented the bill, which would help to clarify the classification of cryptocurrency.

The bill will place crypto assets into three categories: digital consumer assets, digital securities, and virtual currencies.

Any digital assets that fall into those three categories will be defined as intangible personal property, granting virtual currencies the same treatment as fiat money.

Digital consumer asset : means a digital asset that is used or bought primarily for consumptive, personal or household purposes

Digital security :  means a digital asset which constitutes a contract, transaction or arrangement where a person invests money in a common enterprise and is led to expect profits from the efforts of a promoter or a third party, and does not include any other asset within the meaning of security

By BlockOneDaily