Arizona, Texas and Utah are recognized as major US states in terms of cryptocurrency regulation, as investors look to US “crypto week.”
Arizona, Texas and Utah are currently leading the country in blockchain policy and are recognized as “pioneers” in this sector, according to a “tokenized in the US” research report by Chainlink and Blockchain Association.
The report assessed states based on government-led blockchain pilots, active procrypted task forces, state legislative support, blockchain workforce concentration, strategic Bitcoin (BTC) reserve initiative, and active members of the North American Blockchain Association (NABA).
“Texas, Arizona and Utah have acquired Trail Blazer status due to their strengths in both policy and ecosystem development,” the report said, adding that “other major states, including North Carolina, California, New Hampshire and Wyoming, have shown strong involvement across several scorecard categories.”
“There’s so much happening at the federal level that we can’t overlook substantial activity that’s happening in the US,” writes Adam Minehardt, policy director at ChainLink Labs.
He added: “Tokenization in the US highlights the important role these states play in terms of digital assets and provides insight into the opportunities and challenges ahead.”
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At least 50% of US states have a representative strong support of Congress on blockchain policy, while 36% have an active crypto task force.
Over 22% of the state have active blockchain pilot programs, while 16% are enacted or currently pursuing a strategic Bitcoin reserve.
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US Crypto Week sets investors’ expectations for new crypto regulations
The Regulatory Scorecard was released in a critical week for blockchain regulations, known as “crypto week” by the US government.
This week we are marking a turning point, according to Farzam Ehsani, co-founder of Crypto Trading Platform Valr.
“This was unthinkable last year. I hope more countries will follow suit. Times are changing rapidly,” he told Cointelegraph.
US lawmakers are seeking to pass three major cryptocurrency bills aimed at strengthening industry improvements and making them more clear to stable issuers: inducing and establishing clear actions in the US, or clear actions in the digital asset market (transparent acts), and the digital asset market to prevent the anti-cbdc Surveillance Act (Crive cultion of Cherent Bank), and the digital asset market (transparent acts), and the digital asset market (transparent acts).
Industry leaders say that the act of clarity is not perfect, but that passage through Congress could help the United States become a global leader in digital asset policy.
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