MS SB2633

Creates exemption from Mississippi Securities Act of 2010 for developers and sellers of open blockchain tokens if token has consumptive purpose (exchangeable for goods, services, or content), was not marketed as financial investment, and developer files notice of intent with Secretary of State.

Exempts persons who facilitate exchange of open blockchain tokens from broker-dealer registration requirements if they have reasonable belief token qualifies for exemption and promptly terminate exchanges of non-qualifying tokens.

Defines "open blockchain token" as digital unit created through transaction verification or computer code deployment on blockchain network, recorded in decentralized digital ledger, and transferable between persons without intermediary.

Exempts developers, sellers, and facilitators of open blockchain tokens from Mississippi Money Transmitters Act licensing requirements under new Section 75-15-7(b).

Grants Mississippi Commissioner authority to investigate whether persons claiming blockchain token exemption actually meet exemption requirements, notwithstanding the asserted exemption.