Lawmakers in Wisconsin have introduced new legislation that could ease regulatory pressure on cryptocurrency users and businesses across the state.
The proposal, known as Assembly Bill 471 (AB471), aims to exempt certain crypto-related activities from being classified as “money transmission,” which normally requires a license from the Department of Financial Institutions (DFI).
If passed, the measure would free individuals and companies from licensing obligations when engaging in activities such as mining, staking, blockchain software development, or operating blockchain nodes. It also covers digital asset transfers between parties, provided these do not involve converting tokens directly into U.S. dollars or other bank deposits.
A key provision of the bill further prevents state agencies or local governments from restricting the acceptance of digital assets for lawful goods and services. It also affirms the right for people to use self-hosted or hardware wallets to custody their own digital assets.
Supporters argue the bill helps bring clarity to crypto regulation at the state level, an area that still lacks uniform rules nationwide despite growing adoption.
At present, AB471 has bipartisan backing with multiple sponsors in both the House and Senate. However, the bill is still early in its journey: it has been referred to the Committee on Financial Institutions and must clear additional votes before becoming law. According to tracking platform LegiScan, its progress currently stands at about 25%.
If enacted, Wisconsin could become one of the more crypto-friendly states in the U.S., encouraging innovation in blockchain, staking, and digital asset commerce.
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