While the Federal government, and many state governments, are working on ways to regulate and control cryptocurrencies, Wyoming is working on trying to become crypto-heaven (as we reported on here, Blockchain Heaven Could Soon Be Created in Wyoming).
A new bill introduced to the Wyoming Senate has just passed by a vote of 26-3 that would assure assets from cryptocurrency would be exempt from property tax. The moves are intended to bring crypto-preneurs to Wyoming.
A new tax bill has been introduced in the Wyoming state senate on Feb. 16 that would exempt virtual currencies from state property taxation, and suggests an effective date be provided for the tax exemption implementation.
Wyoming Senate Bill 111 was introduced by senators Ogden Driskill, Tara Nethercott, and Chris Rothfuss, along with representatives Tyler Lindholm, David Miller, and Jared Olsen. All are Republicans with the exception of Senator Rothfuss.
The bill received 26 “ayes,” from a mixture of Republicans and Democrats, 3 “nays,” all from Republicans, and 1 “excused.”
This Republican and Democratic backed bill comes as a growing bipartisan movement of US lawmakers are calling for more crypto regulation.