US Crypto Review: Top-5 States With Welcoming Regulations
Stephen O'Neal's original article for cointelegraph.com reduced by 71%
On Aug. 14, at least two American states introduced regulatory actions targeting the crypto space. States take the crypto matter into their own hands, federal government remains absentThe regulatory landscape is actively changing throughout the U.S., as different states seem to be pushing in different directions in regard to crypto, while the federal government has yet to adopt a universal framework despite the calls from local actors.
"As the Federal government's position remains more and more silent states will look to develop their own framework. When states are left to do their own thing, there is often a massive disparity within their rules. We can see the same thing with the Marijuana industry." Cointelegraph has picked out the five most crypto-friendly American states for different crypto actors, be it casual consumers or large businesses.
Wyoming has proved to be the undisputed leader in terms of crypto-friendly areas of the U.S. Thus, the Cowboy State put itself on the crypto map in early 2018, when the Wyoming House of Representatives passed a bill defining "Utility tokens," and exempting those of them that are not marketed as an investment opportunity from securities regulations. Ohio has already advanced in one particular field in which other states are still lagging: taxes paid in crypto.
Back in 2014, California became one of the first states to roll out a form of crypto regulation, as its governor signed a bill ensuring that "Various forms of alternative currency such as digital currency" are legal in purchasing goods and transmitting payments.
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