Leaders in Wyoming’s cryptocurrency sector are concerned proposed infrastructure legislation could criminalize them for non-compliance with regulations they say are impossible.
The price of Bitcoin fell by one-third this week, driving analysts wild. As Wyoming seeks to diversify its revenues through cryptocurrency, should the state be worried about more booms and busts?
When Wyoming passed legislation favorable to the budding industry, Dodson writes, the state forgot to require some benefits in return — like jobs or revenue.
The Legislature, in collaboration with industry-insiders, has passed a raft of industry-friendly legislation. Now the state waits to see who comes.
A former proponent contends that holders of cryptocurrency wealth are writing statute with little checks from lawmakers who don’t fully understand the legislation.