While Wyoming still represents cowboys, cattle ranches and canyons, bereft of those aiming toward metropolis, a cortege of lobbyists and legislators are on their soapboxes in the state arguing the perks that Wyoming has to bring to blockchain.
The blockchain boosters
Until recently, strict money-transmitter laws meant residents of the sagebrush state couldn’t even access a Coinbase account. But in the last 2 years, Wyoming has enacted 13 blockchain laws, with a long line of other crypto-focused proposals in the works.
So what does the country’s least-lived-in state (housing less than one-fifth of 1% of Americans) want with a decentralized technology like blockchain?
When one ethos leads to another
In Wyoming, the party line is more between conservatives and socially moderate libertarians than it is Republicans and Democrats. The state’s laws have long been created in the absence of clear federal rules — the very same ethos in which blockchain was built on.
Join 1.5m+ professionals getting The Hustle daily news brief
Business and tech news in 5 minutes or less
Many lobbyist groups are pushing for crypto-friendly bills, including automated LLC registration, a focus that could be incredibly enticing to an industry where many states favor staunch regulation — like New York’s BitLicense laws.