The regulatory framework of cryptocurrencies is still a major point of discussion amongst lawmakers in the U.S. today, and different states are evaluating ways to implement flexible policies that address the validity of digital currencies. Several regions worldwide are showing little or no interest in having a formal discussion on cryptocurrencies. However, a few crypto-friendly states in the U.S. have chosen to become more involved in implementing digital assets in the current financial system. Let’s take a look at the states embracing cryptocurrencies as investment/payment tools. 1. Texas China’s disruption of crypto mining activities was a massive blow for digital asset enthusiasts. In that regard, miners sought to establish new firms in Texas and proceed with the minting process. Furthermore, the state has affordable energy rates, favoring mining activities. Mining within Texas further allows investors to earn higher incomes as there is no income tax, which makes it one of the most crypto-friendly states in the U.S. The Texas Blockchain Council confirms that over 20 Bitcoin mining firms plan to launch new rigs in the area. Hence, mining in the region could promote the application of digital coins. The adoption of cryptocurrencies became more audible after launching two laws dubbed H.B. 1576 and H.B. 4474. Generally, both laws are in place to ensure cryptocurrencies are recognizable under commercial law. That way, financial...
