"Oh give me a home where the cryptos can roam, free to grow and bring jobs with great ease" sung to an old Cowboy Radio tune ;)
No kidding around, #Wyoming is "Dead Serious" about booting up as the friendliest crypto state in the "Union". Looking to get out of their own "Boom and Bust" Cycle driven by resource mining and agriculture, Wyoming is changing their laws to help rapidly grow crypto-centric tech businesses in order to get out of that cycle which drives people out of the state, sooner or later. Common Sense is prevailing in Wyoming, no surprise there.
Read about the progress in great detail here on County17's excellent post:
In Wyoming, Blockchain and crypto-currency acceptance has rapidly gone through the Denial Phase in 2016 (It's proponent House Majority Whip Tyler Lindholm (R-Sundance, was summarily dusted) to the fast forward position we have today late in 2019, where the Wyoming state legislature has racked up a number of Blockchain 2019 wins, with more on the way in 2020.
Wyoming's rapid transformation into a Blockchain and Cryptocurrency friendly state is attracting some big names in Crypto, namely #Kraken one of the best run imo cryptocurrency exchanges and education sites (backed partly by Trace Mayer led by CEO Jesse Powell) and #Cardano a leading anonymous cryptocurrency (created by #IOHK and #Charles Hoskinson one of the co-founders of Ethereum) who are both looking seriously at staffing up in 'neighbouring" Wyoming.
California and Colorado's loss and Wyoming's gain when that happens.
In 2020 expect more to re-locate some of their growth and even start a new business right in Wyoming.
Kudos to Lindholm et al in Wyoming for "hangin in there" and "stickin to their guns" (beliefs) to make this happen.
Trace Mayer, a well known #Bitcoin #BTC "Maximalist" and overall fan of Cryptocurrencies and the blockchain in its various forms, has had a big impact in educating the folks in Wyoming on the finer details of Crypotcurrency and the Blockchain (Distributed Ledgers public and private, pseudonymous and anonymous). You can watch him in action discussing Wyoming here (11:21 mark Trace talks about Wyoming's respect for property rights and how it applies to cryptocurrency ownership rights)
If I were a betting man, Wyoming is going to make it while other state jurisdictions in the US "snooze and lose". Wyoming is lean (not much government overhead), smart (well educated) and hungry (given the number of times the mining industry has "come and gone" in that state) and recently have proactively sought out and attracted some of the smartest people in the crypto industry to help them create a really friendly place to set up shop in the crypto market segment of #fintech.
Caitlin Long working with Lundholm, has also been a big contributor to Wyoming's progress, especially limiting the lien period to 2 years on cryptos passed through Wyoming registered trustee/exchange facilities, a problem most BTC has when Bitcoin is loaned to central exchanges then "sold" by the central exchange to investors only to have the investor buyer find out the loaning source has first priority and really owns the BTC, especially in the case where you can't provide the private key address in such a court challenge (as is the case in any other state, there is unlimited liability exposure with no time constraint, ie Ross Albrecht, now sitting in jail for the past seven years after the Silk Road fiasco, with no chance of an easy parole)
I encourage you all to check out Wyoming. :)
That's all for now,
TK over and out