The State of Montana Recognizes Utility Tokens and Exempts Them From Certain Securities Laws

The State of Montana passed a landmark Bill (HOUSE BILL NO. 584) titled “AN ACT RELATING TO CRYPTOCURRENCY” which exempts Utility Token transactions from certain Security Laws. The bill amends Section 30-10-105, MCA and attempts to define Utility Tokens and provide a guideline which the Utility Tokens need to follow. 
The Bill was signed by the Governor of the U.S. State of Montana, Steve Bullock on the 8th May. Initiated by State Representative Shane Morigeau, the Bill passed with 33-15 votes and will be applicable starting on the 1st of July.
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