Update on the progress of the cryptocurrency bills in Wyoming
A few bills relating to cryptocurrency are being voted as we speak in the state of Wyoming.
Some of the progress of those bills can be seen here:
(Source: https://twitter.com/CaitlinLong_/status/963899114210476032)
As you can see, things are progressing nicely for cryptocurrency fans.
I first mentioned this as a possible catalyst earlier in the week.
The post can be read here:
https://steemit.com/bitcoin/@jrcornel/possible-catalysts-for-bitcoin-this-week
Which bill in particular should we be focused on?
All of them are important in their own way, but that second one, the one related to ICOs is particularly important in my opinion.
They are working on amending current money transmitter laws to exempt utility coins from falling under said laws.
The result would greatly encourage technological innovation in the region and perhaps something that could be copied by other states.
Bitcoin having a banner day today.
Not to say that the positive price action is solely related to what is going on in Wyoming, because it isn't.
Though, it might be a small contributing factor.
Most likely, the positive price action has to do with some positive comments coming from Goldman Sachs earlier today saying that Bitcoin might indeed end up being a very good store of value due to its limited supply and ease of transfer.
Very real possibility it displaces gold at least to some degree.
I tend to agree with them.
Stay informed my friends.
Follow me: @jrcornel
Who would ever think that little ole Wyoming would be on the cutting edge of Crypto law?
I have been there hundreds of times and the things that come to mind are:
and:
STEEM on you Wyo Cowboys!
That fish is almost as big as the one I caught. By the way, wasn't that the same one you let go?! :)
😂😂😂😂😂
Wyoming where Men are Men, Women are scarce and Sheep run scared ! (just kidding) Don't forget the Grand Tetons and Great skiing in Jackson Hole !
Thank you for the update on this. I agree too that it is a good alternative to store value and it is certainly more liquid than owning physical metals.
I mean when I think cutting edge innovation and leading the way technologically, I think Wyoming :)
Haha, perhaps because of things like this, someday you will! :)
I wonder what Wyoming's electricity rates run at? Perhaps they're trying to attracts miners to the region with its cooler climate and bolster the local tax-income.
They said they want to be known as cryptocurreny haven going forward. They want to foster innovation as opposed to stifle it.
Commercial vs residential .04 usually
This is awesome, it will open more doors to investors, many more people will be jumping in the crypto boat so fast then their legs can carry them
great post @jrcornel
lovely
I have been following this for a while now, not sure I am ready to move but its getting more and more crypto friendly.
Well, I think we'll see a large acceptance with the "do no harm" stance from the SEC on crypto. They'll act in our best interest, which is to leave well enough alone.
Yes, that was also some very good news as well.
The SEC meeting two weeks ago was a huge step in positive direction for crypto in US and it was nice to see that some like Senator Mark Warner actually knew the differences between the different coins and what they did. If you recall, that was literally the day BTC finally bounced. Very interesting what you posted about Wyoming, I had no idea there was any state level legislation of this type getting voted on, much less proposed. I’m gonna have to start searching other states news to see what else ive missed as I’m so excited about a crypto future and applying blockchain technology, I’m a fanboy.
Just curious, why do u think Wyoming the state this is happening in, I would have expected a tech heavy state like CA or FL to take a lead in this type of legislation, maybe they are smarter in Wyoming? Lol
Yes that was a very good day for Crypto, it wasn't so much what they said, but rather what they didn't say. Basically, they didn't squash it. :)
They stated they want to encourage innovation as opposed to stifling it. That is my best guess.
Great to see that the US is picking up the regulatory friendly tone towards crypto. Here in Switzerland, there has been great support towards crypto to the highest instance in government. Just here a few examples of it: https://www.ccn.com/alpine-country-strives-for-crypto-nation/
I do not think that bitcoin will replace gold. But I do beleive that it will be a very close rival, with the older group choosing gold and the more younger progressive group choosing both gold and bitcoin. And even another group just going straight bitcoin.
Thanks for sharing great news
@jrcormel
Good info, thank you for the post. Interested to see what will happen with the state tax filings. It would be a pretty incredible accomplishment and benchmark. Moving in the right direction!