asserts, Wyoming is the undisputed leader in terms of crypto-friendly areas in the USA. The state officials and legislators have passed numerous laws on the positive regulation of blockchain and cryptocurrency in the area.
In 2018, Wyoming lawmakers have successfully passed a legislation that provides a legal definition to utility tokens, a new type of asset, which are differentiated from investment opportunities which could otherwise be covered by securities regulations.
The state has also approved a legislation which provided banks with custodial roles on cryptocurrencies. This allowed the banks to administer digital assets and even promote the ownership of digital currencies by the masses through the custody of trusted financial institutions.