While the United States continues to weigh the best ways to involve crypto companies through an infrastructure bill, the state of Wyoming has taken proactive measures to lure Bitcoin (BTC) miners and other crypto companies into its local jurisdiction.

Wyoming’s crypto-friendly idea comes to light when the state passed more than 24 bills related to blockchain technology. A recent CNBC report shows that the state has now approved a bill allowing “rapid approval for new crypto banks.”

Wall Street veteran Caitlin Long, CEO of digital asset bank Avanti, said Wyoming’s latest bill creates a welcoming legal environment. She added:

“[Wyoming’s bill] has just made it clear that this industry is legitimate and exists in a recognized way. “

However, Long shared her concerns about the gray areas of crypto regulation in other US states. By comparison, Wyoming has not imposed any taxation on personal crypto income, in addition to providing cheap energy resources and a fast internet connection that is ideal for mining Bitcoin and other cryptocurrencies.

Wyoming’s Cynthia Lummis was among the US Senators proposing crypto changes to the infrastructure law. CNBC quoted Senator Lummis as saying:

“The State [of Wyoming] brings more sales and tech jobs thanks to crypto. It could be a sandbox in action for [Washington] DC. “

Citing long delays related to crypto reforms, Lummis also highlighted the risk of crypto companies “burning capital” to receive a nod for going business. Following this example, other US states, including Texas, Nebraska, North Dakota, and Illinois, are now enacting their own crypto-friendly laws.

The report also stated that the leadership of crypto companies like Kraken and Avanti believe the developments led by Wyoming will continue to put pressure on other states and the federal government to innovate in similar directions.

Texas and Wyoming are currently leading the race for crypto banks and bitcoin miners, which were recently banned from operating in China.

Related: The White House supports only minor changes to the crypto tax proposal

While the Infrastructure Act, HR 3684, proposed a framework for crypto businesses to operate in the U.S., Senators opposed the introduction of regulations on crypto taxes. If changed, the bill could allow many crypto-related companies to bypass extensive reporting requirements.

On August 6, US Treasury Secretary Janet Yellen objected to the proposed amendment to the Infrastructure Act. In parallel, the White House announced it would accept the changes proposed by Senators Rob Portman, Mark Warner, and Kyrsten Sinema that only exclude mining evidence and sellers of hardware and software wallets from tax reporting.

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