As the United States continues to further explore the best ways to integrate crypto businesses through the Infrastructure Bill, the State of Wyoming has taken further active steps to attract bitcoin (BTC) miners and other crypto businesses to operate under its local jurisdiction.
While Wyoming’s crypto-friendly conceptual nature is coming to light as the state has reportedly passed more than 24 bills that are related to blockchain technology.
A new CNBC report shows the state has passed a bill that will be allowing “quick approval of new crypto banks.”
Caitlin Long, a Wall Street veteran and CEO of Digital Asset Bank Avanti, said Wyoming would create a legal environment that would welcome the latest bill.
She further added,
The bill has made it clear that this industry is legal and in an approved manner.”
While long shared concerns about the gray areas of crypto regulation in other US states. In comparison, Wyoming does not tax personal crypto income and offers power sources at reduced prices and also faster internet connections, making it ideal for mining bitcoin and other cryptocurrencies.
During the formation of Bill Cynthia Lummis represented Wyoming amongst the US senators who proposed crypto amendments to the Infrastructure Bill.
She came up with a statement thanking cryptocurrencies,
Thanks to crypto, now the state of Wyoming offers more revenue and technical jobs. It could be the Washington DC-operated sandbox.
While attending to the queries that were related to the long delays associated with crypto reforms, it highlighted the risk that crypto businesses would “burn through capital” to get approval to start operations. Several other U.S. states, including Texas, Nebraska, North Dakota, and Illinois, are now passing their crypto-friendly bills.
