Coinbase is a US-based company that, according to its slogan, works to build trusted products to expand the adoption of cryptocurrency and blockchain technology. The enterprise, led by Brian Armstrong, believes that crypto and blockchain technology has the potential to help upgrade the financial system, increase economic freedom, and create opportunities worldwide.
Coinbase conducted a survey in the field of technological innovation and found that approximately 20% of American adults own cryptocurrency, and a large portion of this population expressed frustration with the current financial system and a desire for change. The survey indicates that most Americans remain optimistic about the future of the cryptocurrency industry and understand its potential for bringing significant changes.
However, Coinbase expresses concerns that the regulatory approach exercised by the US government is stifling the development of the cryptocurrency industry.
It is in this environment of tension and uncertainty that the company is launching a new series that will be implemented at the state level with the aim of highlighting technological innovation and leadership in the crypto field, called "Crypto States", with Montana being the first state featured.
Montana has a deep history of embracing new forms of industry and innovation, and in recent years, the state's residents have been getting closer to the cryptocurrency industry and realizing the cost savings of transactions and asset transfers on the blockchain.
In Montana, the highlight is BLOCKY, a company that builds blockchain-based systems for data provenance and secure computing. The startup leader believes that Montana has become a phenomenal place to start a cryptocurrency venture due to the strong community of entrepreneurs, innovators, and investors in Montana, and Montana's Utility Token Act passed in 2019.
Montana is a "crypto state," and the recent pro-cryptocurrency mining legislation passed in the state justifies this claim. The state aims to create legal certainty for individuals and companies that mine cryptocurrencies. The recently passed law is based on granting every citizen the right to mine cryptocurrencies at home and each company the ability to set up a commercial mining operation, subject to certain exceptions.
To conclude, Coinbase has been standing out in the cryptocurrency business market and has a market value of around $13 billion and is currently the largest enterprise operating in the United States. It is a company that believes in the value of the crypto market, and its leaders have been advocating for clarity in digital asset law, which they claim is not very clear.
This new "Crypto States" series aims to show regulators how important it is to have clear laws regulating the cryptocurrency market. Montana is the first state chosen because it has a history of innovation and technology and stands out in cryptocurrency legislation, with its pro-mining law, creating a favorable environment for the cryptocurrency business.
What do you think of this new "Crypto States" series created by Coinbase?
