In 2019, Wyoming enacted 13 new laws designed to enable cryptocurrency businesses in the state. Wyoming is currently the only state that has created a legal framework that not only allows but also welcomes the crypto industry to do business in the state through companies and individuals.
The new Wyoming laws recognize legally protected property rights for owners of all types of digital assets, including cryptocurrency. This is important because that recognition means that all of the state laws authorizing and protecting transfers of property include cryptocurrencies. Crypto is more liquid and secure when the state's commercial laws and protections apply as they would to ordinary money or any other legal form of property.
What Do Wyoming's 13 New Blockchain Laws Mean?
Wyoming has now enacted a total of 13 blockchain-enabling laws, making it the only US state to provide a comprehensive, welcoming legal framework that enables blockchain technology to flourish, both for individuals and companies. These laws enable innovation and creativity, and are meant to bring capital, jobs and revenue into Wyoming.