Wyoming is a huge coal producer and user. Is that the cheap energy that is drawing the miners? It just looks like Wyoming is moving ahead in the process of welcoming the crypto industry.  The state is doing a lot to bring in miners and several other cryptocurrency-related businesses.

The primary reason is that lot of these tech companies have been moving here.  There has been friendly regulation, and the state has passed two dozen bills related to blockchain.  The biggest one so far is a quick approval for new crypto banks.

Wyoming is focusing on creating a welcoming legal environment, just clarifying that this industry will exist in a recognized manner.  Most of the cryptocurrency industries in other states are just in a legal and a regulatory gray area.

On top of that regulatory environment, guys, there is no personal income tax here.  Wyoming also has some cheap and abundant energy sources, which is the key for crypto mining companies.

And, it turns that the internet speed here is pretty good as well. In addition, some of the country’s largest data centers, including Microsoft, are in Cheyenne.

Wyoming Senator Cynthia Lummis Meanwhile was among those fighting for a crypto amendment in the recent crypto infrastructure bill. She recently stated that the state is bringing in more revenue and more tech jobs. Thanks to crypto.  And, she says it could be a SandBox for action in DC.

There has been a long delay in getting action. So we are trying to encourage the Fed to move it along so these companies are not burning through their capital, trying to get a charter they can actually begin to conduct business.

Senator Cynthia Lummis expressed:  “Inflation is hovering like an ominous drone over people in my home state of Wyoming and across America. Real hourly earnings are down nearly 2% from a year ago. This is because increased prices have outpaced any extra money in paychecks.”

Reportedly, Wyoming has a history of pioneering new laws.  Reportedly, it was the first to have LLC.  It was also the first to allow women the right to vote. But other states are quickly following with that. Texas, Nebraska, North Dakota, Illinois all are passing their crypto-friendly goals recently. Thus, the competition between the states is pretty good, and it puts other states possibly under pressure to innovate.

The community is becoming more and more curious about Wyoming.