![]() ![]() ![]() These developments look more radical than many of the other states’ recent blockchain-savvy moves, as they often explicitly challenge a variety of disparate federal approaches to crypto regulation.Ĭelebrating the news of another revolutionary piece of crypto legislation from Wyoming, one could wonder: Is this for real? Are they serious about this? What is it they are really shooting for? Putting Wyoming’s newfound crypto drive in a broader context could shed some light on how and why the state of ranchers and miners decided to boldly reach out to the crypto industry.Īn unlikely romance between Citibank and South Dakota provides a textbook example. The sweeping changes that the Cowboy State’s lawmakers have recently passed or introduced as bills include defining three categories of digital assets and treating them as property granting assets designated as virtual currencies the same legal status as money authorizing banks to hold digital assets in custody allowing corporations to issue certificate tokens that represent shares and creating a regulatory fintech sandbox aimed at further diminishing any regulatory hurdles to industry startups. Perhaps Wyoming’s biggest signing this year so far is the relocation of Iohk, the company behind the Cardano blockchain. America’s least populous state, whose economy has been always skewed toward mining and agriculture, looks determined as ever to deliver on the promise to become the nation’s “crypto valley.” Consonant with this jaunty tune, blockchain startups have indeed started pouring into the area. ![]()
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