Wyoming sees the draft bill on non-taxed cryptocurrency

The state of Wyoming might become the first American state where cryptocurrencies are non-taxed thanks to the efforts of the local senators. The local Republicans might be following the trend of less taxation recently set by President Donald Trump.

The exemption from the property taxation if Wyoming Senate Bill 111 becomes approved might increase the interest of the U.S. cryptocurrency startups to this region and even make some entrepreneurs think about relocation, which is very likely the reason why the Republicans decided to back this exemption in the first place.

Additional consequences might include the implementation of the laws similar to this one in other states of America. This is still, however, only a possible outcome, as the draft law might become rejected by the majority.

Arizona, another American state, has recently allowed its residents to pay taxes even in the form of cryptocurrency. In Vermont, the blockchain verification is considered ground of proof in court. The same state is planning to introduce the program of electronic residence with the use of the blockchain and overall take advantages of this technology and apply them anywhere it might be handy.