Wyoming – the “cryptocurrency” state


bitcoin cryptocurrency liquidity

The different states in the US have definitely different approaches and attitudes when it comes to cryptocurrencies. Some US states, like New York, for example, are very pro-crypto, introducing legislations and initiatives to promote the use of cryptocurrencies. Other states, like Ohio, are already accepting Bitcoin for certain tax payments.

The latest example of a US state that comes forth with probably a revolutionary idea is Wyoming. In short, Wyoming has introduced a special legislation regarding the legal status of cryptocurrencies. Bitcoin can soon have the same legal status as fiat money.

Wyoming is taking an interesting and strategic step in its efforts to become a cryptocurrency heaven for businesses. While certain countries such as Estonia and Malta have already established themselves as cryptocurrency heavens, Wyoming is poised to become the “Silicon Valley of cryptocurrencies” if the legislation on Bitcoin’s legal status is passed in the House.

According to Forbes and other press, Coinbase, the largest US cryptocurrency exchange resumed its operations in the state after a long “break”. Wyoming has already passed two important bills for the regulation of cryptocurrencies in mid January of 2019.

The bill, according to Forbes, will allow Bitcoin to have a legal status just like regular money. Banks will be able to take custody of the cryptocurrency, if needed. There will be some balance between regulation and “deregulation”.

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Wyoming - the "cryptocurrency" state

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