The document discusses 5 US states that are open to cryptocurrency regulations: Colorado, Ohio, Texas, California, and Wyoming. Colorado was the first to pass legislation exempting certain digital assets from securities regulations. Ohio has advanced in allowing taxes to be paid in cryptocurrency and proposing blockchain use for records. Texas is business friendly towards crypto mining but almost banned anonymous cryptocurrency use. California regulates cryptocurrency as legal payment and is home to major crypto companies. Wyoming leads by exempting utility tokens from securities laws and allowing banks to custody digital assets.

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5 Notable U.S States That Are Open To Crypto
Regulations
As we know, blockchain and cryptocurrencies are the two most disruptive
innovations that have taken the world by storm. In this article, we will talk about
the five notable U.S. states welcoming crypto regulations.
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Five Most Crypto-Friendly American States
Some of the American states that have fair regulations in place for
cryptocurrencies are:
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1- Colorado
As far as cryptocurrencies are concerned, Bitcoin seems to be on top of
Colorado's priority list. Colorado has started paving the way for the crypto industry.
In May 2018, Senate Bill 086 was signed. This required the Department of State,
the Governor's Office of Information Technology (OIT), and the Department of
Regulatory Agencies to consider using blockchain to protect confidential state
records from theft and manipulation.
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In March 2019, The Colorado Digital Token Act was signed by the Colorado
Governor. It is a bill that aims to exempt cryptocurrencies from certain securities
regulations, like the legislation in Wyoming. Effective from 2 August, certain digital
assets that were actually designed for 'consumptive purpose' will now qualify for
securities exemptions.
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This bill will help Colorado's state agencies regulate the Initial Coin Offerings
(ICO) market, as the Colorado Division of Securities has been banning bad actors.
Colorado has also blockchain to other fields. Before the Digital Token Act, in 2018,
the mobile voting solution was deployed during the primary and midterm elections
of West Virginia.
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1- Colorado
As far as cryptocurrencies are concerned, Bitcoin seems to be on top of
Colorado's priority list. Colorado has started paving the way for the crypto industry.
In May 2018, Senate Bill 086 was signed. This required the Department of State,
the Governor's Office of Information Technology (OIT), and the Department of
Regulatory Agencies to consider using blockchain to protect confidential state
records from theft and manipulation.
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2.Ohio
Ohio still has a long way to go before it becomes a federal crypto hub in the U.S.,
but one can sense its ambitions as they are evident. Following the legal
recognition of blockchain data in August 2018, lawmakers of the Buckeye State
proposed using blockchain technology for marriage licenses and birth certificates
and to work with universities so that they can offer blockchain-related courses to
students.
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Ohio has advanced greatly in one filed which is taxes paid in crypto. From
November 2018, local companies have been paying everything right from
cigarette sales taxes to employee withholding taxes using Bitcoin (BTC) after
registering on the OhioCrypto.com website.
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3. Texas
This was the first state that published a memorandum to declare that no money
transfer license would be required for selling Bitcoin or other digital currencies. But
Texas cannot be given the credit of being the most crypto-friendly place as Texas
was on the verge of passing a bill in early 2019 that would have resulted in a ban
over the usage of cryptocurrencies between unidentified parties.
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There are many crypto mining enterprises in the business-friendly state of Texas,
like TMGCore. The cooling technology of TMGCore allows it to run mining rigs
efficiently even during extreme summers. In other states such as New York and
Washington, where mining is known to be cost-efficient, they have intentionally
increased electricity costs for crypto businesses. Overall, this makes Texas a
safer bet.
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4.California
In 2014, California was one of the first states to bring about a form of crypto
regulation as the Governor of California signed a bill that ensured that "various
forms of alternative currency such as digital currency" are legal in transmitting
payments and purchasing goods.
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Some of the biggest U.S. crypto companies such as Coinbase, Kraken, and
Ripple are headquartered in California. The lack of certain regulations in California
can be looked at as a blessing in disguise as local businesses are not hurdled with
overly restrictive measures.
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California will soon be catching up with Wyoming and the other states. Earlier in
August, California Government Operations Agency Secretary announced the chair
and members of the blockchain working group that was created in 2018.
According to the document, the task force must submit a report on the potential
risks, benefits, and uses of blockchain to the state government by 1 July 2020.
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5.Wyoming
Wyoming has always proved to be the undisputed leader in terms of crypto-
friendly areas of America. The state of Wyoming put itself on the crypto map in
2018 a bill was passed by the Wyoming House of Representatives that defined
utility tokens and exempted those of them that are not marketed as an investment
opportunity from securities regulations.
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Wyoming, by authorizing banks to administer digital assets, helps them to comply
with the Securities and Exchange Commission's regulations for 'qualified
custodians.' This will prompt even those who are not tech-savvy to enter the
crypto market.
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Conclusion
I hope you have now gained a fair understanding of some of the American states
with crypto-friendly regulations. To enroll in blockchain certifications and become a
blockchain expert, check out Blockchain Council.
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Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain
space today.
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