CO SB277

Exempts transmission of virtual currency from regulation under Colorado's Money Transmitters Act.

Defines "virtual currency" as any digital representation of value used as medium of exchange, unit of account, or store of value that is not recognized as legal tender by the U.S. government.

Defines "open blockchain token" as a digital unit created through transaction verification or computer code deployment on a blockchain, recorded on a decentralized ledger, and tradeable without intermediaries.

Excludes open blockchain tokens from securities regulation if usable within 60 calendar days of sale for receipt of goods, services, or content.

Takes effect 90 days after final adjournment of the 2018 legislative session (August 8, 2018) unless subject to referendum petition.