7 Crypto-Friendly States In The US

The two laws will help to cut down on litigation. They’ll streamline the operations of crypto exchanges, ICOs, and other stakeholders, here. Florida believes that cryptos are here to stay. That’s why it’s investing in the sector.

Other States That Are Crypto-Friendly

Again the above list isn’t conclusive. Other states are willing to accommodate and encourage cryptocurrency and BC technology growth. These include:

  • South Carolina – its Senate Bill 438 became law in 2017. It acknowledges digital records binding.
  • Montana – has an easy setup for crypto firms. You’ll only need to file an “Application To Operate An Electronic Money Institution.”
  • Colorado – allows residents to trade digital assets without restrictions. It doesn’t tax crypto transactions.
  • New Hampshire – exempts crypto traders from paying capital gains taxes. Has favorable licensing requirements for anyone looking to launch their crypto firm
  • North Dakota – legalized trading in Bitcoin back in 2014. And it has a dedicated department for regulating the crypto market
  • Illinois – recognizes cryptocurrencies as legal payment forms

Author’s Thoughts

The crypto industry is on an upward trend. Today many accept crypto-assets for payment and investments too. Despite their growing popularity, they face stiff opposition from governments that are reluctant to adopt them. In the US, for example, the federal government has been skeptical about them.

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