Wyoming 2019 Bitcoin Legislation Leading to special purpose depository institutions

What’s happening? it’s a mouthful… In 2019 Wyoming passed a law to make bitcoin mining and blockchain a sort of safe haven in Wyoming, seeking to lure business to Wyoming.

Why is this important? This week the Federal Reserve announced it was opening up comment period for “Account Access Guidelines for the Reserve Banks” which would lead to Wyoming-chartered special purpose depository institutions ….bitcoin banks!

How will this be important? Wyoming was just the first, other states are following. Look to AZ which has been dabbling in finch sandboxes and UT too.

Wyoming News Now | Governor Gordon, Senator Lummis Continue to Lead Wyoming’s Rise in Digital Realm.