The new bill would allow crypto banks to get faster approvals for conducting business in Wyoming.
As the United States continues to weigh out the best ways to include crypto businesses through an infrastructure bill, the state of Wyoming has taken proactive measures to attract Bitcoin (BTC) miners and other crypto businesses to its local jurisdiction.
Wyoming’s crypto-friendly notion comes into light as the state has passed more than 24 bills related to blockchain technology. A recent CNBC report shows that the state has now approved a bill that will allow for “quick approval for new crypto banks.”
Wall Street veteran Caitlin Long, CEO of digital asset bank Avanti, stated that Wyoming’s latest bill creates a welcoming legal environment. She added:
“[Wyoming’s bill] just clarified that this industry is lawful and does exist in a recognized manner.”Wyoming’s crypto-friendly bill could be a sandbox in action, Sen. Lummis says (cointelegraph.com)