When it comes to cryptocurrencies and their usage, the United States of America has been trying to weigh out the cryptocurrency industry. One of the recent actions it has taken to execute its plan is by introducing an infrastructure bill. According to the bill, it was revealed that more than $25 billion were to be generated from cryptocurrencies through taxation.
While the United States’ administration is trying to push out the cryptocurrency industry very smartly, one of its states is doing things in a different manner. The state of Wyoming is leaning towards the cryptocurrency industry, as it is aiming to welcome it with open arms.
The state wants to embrace the entire cryptocurrency industry and it is taking several actions proactively to make it happen. The state is constantly coming up with different kinds of strategies/offers to make things more attractive for the cryptocurrency community.
As of now, the state of Wyoming is aiming to bring as many Bitcoin miners as well as other cryptocurrency businesses onboard. The state is showing tremendous flexibility and leniency towards the cryptocurrency sector to make its jurisdictions easy to access for cryptocurrency users.
The proof of Wyoming’s leaning towards the cryptocurrency sector is its adoption and passing of several bills. The sources reveal that all of the bills they have passed are related to blockchain technology. So far, the state of Wyoming has passed 24 bills for the same space.
Just recently, the state of Wyoming has passed a new bill, which is going to be even more promising for the cryptocurrency community in the state. The data reveals that with the passing of the new bill, it would be extremely easy for cryptocurrency banks to open in the state. The crypto-banks would receive quick approvals from the regulators in Wyoming to open up their operations.
Avanti Bank, a digital asset bank’s CEO Caitlin Long, talked about the recent bill approved by the Wyoming State. Long, a veteran Wall Street personality stated that the new passing of the bill by the Wyoming-State is very promising for the cryptocurrency industry.
With the approval of the new bill, the cryptocurrency industry would exist as a legal entity in the state of Wyoming. The legal existence of the cryptocurrency industry in the United States would be a huge leap and victory for the crypto-sector in the country.
Long also stated that the new bill that Wyoming has passed goes to show that there is nothing to be concerned or vary about when dealing with cryptocurrencies. In just a matter of 12 years, the traditional financial sector has made a huge deal about the decentralized nature of the cryptocurrency industry.
However, the Wyoming-State has made it clear that it is not concerned or alarmed by any of the aspects of the cryptocurrency industry.