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The Economist

Wyoming wants to become America’s crypto capital

Wyoming aims to become America's crypto capital, passing laws to foster digital assets. However, concerns about safety and regulatory hurdles remain.

Wyoming wants to become America's crypto capital, passing over two dozen laws on digital assets since 2019.
The state believes that crypto could help diversify its economy and appeals to its small-government-loving residents.
However, three-quarters of Americans do not think cryptocurrencies are safe.
The Federal Reserve denied a state-chartered bank's membership application due to concerns about its risk-management framework.
Wyoming's quest to issue a stablecoin backed by US Treasury bills is uncertain due to a lack of proof of a market for such a token.

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