Will the Cowboy State become the Blockchain State? Wyoming has passed legislation to attract the blockchain and cryptocurrency businesses to a state dominated by mining and tourism.
Continue Reading Below
In March, Wyoming enacted five bills that relax the state’s regulatory framework for cryptocurrency and revised its corporate code. The legislation led Entoro Capital to start a new operation in the state centered on blockchain – a secure database, or ledger, spread across multiple computers that allows cryptocurrency to be sold.
“Wyoming has become a very pro-business state,” James Row, managing partner at Entoro Capital, told FOX Business’ Ashley Webster during a “Varney & Co.” interview. “We are obviously in a number of areas where we use utility coins and security tokens, and [Blockchain] will help us in the aftermarket products we are trying to create.”
The main drivers of Wyoming’s economy are mining, including oil gas and coal, and tourism. It has the smallest population in America, according to the U.S. Census Bureau.
Row attributes the low overall cost of living to a high-quality environment.
“It has very much an entrepreneurial spirit,” Row added. “It’s a great place to recruit people to.”