Digital assets-existing law.

Wyoming's SF 125 classifies digital assets (like cryptocurrencies and digital tokens) as property under state law, directly affecting residents, banks, and courts. It defines three categories: digital consumer assets (personal use), digital securities (investment-based), and virtual currency (used as money), each treated as property under specific sections of the Uniform Commercial Code. The bill establishes rules for banks to offer custodial services for digital assets and allows security interests (like loans using digital assets as collateral) through "control" mechanisms, such as private keys or smart contracts. This creates a legal framework for handling digital assets in transactions, disputes, and banking services within Wyoming.