From DNotes Telegram
Quote from Dan Theisen today:

Hi Alan. I would like to get your thoughts on the new regulations put forward by Wyoming, Colorado, USA etc. With the securities laws in favor of tokenization of equity, is this something DNotes Global is interested in pursuing? I know it steers away from Reg A+, etc funding that is part of the business plan, but is this a new option for funding?

Quote from Alan Yong today:
Dan, if DNotes Global were doing business in the state of Wyoming or Colorado, instead of Illinois, I would be somewhat excited. It is good news for the industry, in that each state has taken a move in the right directions.

More specifically, Wyoming new laws give cryptocurrencies the same treatment as money within the state.  “With a bank at the helm, rather than a trust company, it can operate in all 50 states. It is also known that the SEC prefers a bank over a trust company to be a qualified custodian for digital assets.”

This could be significant and beneficial when DNotes Global is in the position to have its own bank. If located in Wyoming, it could operate in all 5o states as “qualified custodian” and meet SEC requirements upon approval of necessary applications. However, it is still quite burdensome and subject to annual “surprise audit.”

Frankly, I am less excited about the Colorado new regulations. The new regulations exempt “the securities registration requirements under the Colorado Securities Act (CSA), (and) persons dealing in these digital tokens will be exempt from the securities broker-dealer and salesperson licensing requirements under the CSA.” This will make it easier to raise capital using broker-dealers. But until the conditions in our industry are more favorable, dealer-brokers can not help much.

Overall, I am very optimistic about the future of our industry. Although it could take another two to three years for the regulatory landscape to be properly shaped and settled, we are certainly making progress with more states like Wyoming and Colorado taking a lead to gain competitive advantage.