Wisconsin lawmakers have introduced Assembly Bill 471, a proposal aimed at exempting crypto-related activities such as mining, staking, and non-fiat digital asset transactions from money transmitter licensing requirements. The bill, backed by nine Republicans and one Democrat, seeks to encourage blockchain innovation and provide clearer rules for individuals and businesses operating in the state’s digital asset space.

The legislation outlines that people or companies engaging in blockchain development, node operation, staking, or peer-to-peer crypto transfers would not need a money transmitter license, provided no conversion to legal tender occurs. It also ensures that no state agency can restrict residents from accepting digital assets as payment for legal goods and services or from using self-hosted wallets.

Currently, businesses in Wisconsin must secure money transmitter licenses to operate, as seen with crypto payment provider MoonPay. If passed, Assembly Bill 471 could reduce regulatory barriers and strengthen Wisconsin’s reputation as one of the more crypto-friendly states in the U.S., while advancing through committee review before reaching a full vote.