Yeah, Utah will become first crypto friendly state with this.
Lets dive into it.

Utah Crypto Bill

     The Utah Senate has recently passed a bill, HB230, which removes restrictions on digital assets to promote the growth of the crypto industry in the state. With the passing of this bill, citizens of Utah will be allowed to self-custody their crypto, mine Bitcoin, run blockchain nodes, and participate in staking without interference.

Doubts Grow Over State Bitcoin Reserves

     The reserve clause targeting Bitcoin in Utah's crypto bill was removed before final approval. Similar clauses have also been rejected in bills from Montana, North Dakota, Wyoming, South Dakota, and Pennsylvania. Arizona and Texas are still pushing for Bitcoin reserves, but it is possible that, following Utah's example, they may also retract their efforts.

US is Preparing to Become a Crypto Hub

     Trump had announced plans to make the US a crypto hub, but this requires a crypto-friendly environment in the states. Bills like Utah's HB230 could help the US compete with crypto hubs like Dubai (UAE), Zug (Switzerland), and El Salvador. If Governor Spencer Cox approves the bill, Utah could become the most favourable state in the United States for developing the crypto industry.

Originally published at Wubits as thread