The U.S. state of Wyoming: an insurer Bitcoin trading
On the potential demand, the new law says in the state of Wyoming at first, nothing. Nevertheless, a lot of crypto fans to the new legal situation very optimistic.
Non-uniform crypto-direction in the USA
When it comes to the topic of crypto-currencies, the United States will continue to be a country of Contradictory. While US President Donald Trump repeatedly insisted that he holds little of the Bitcoin and Facebook Libra is a danger to the financial system, and there are at the country level for quite some time in various crypto-related ideas. So, we reported, among other things, that digital currencies could, for example, gain in the settlement of the debt to meaning. After a first foray in the state of Ohio, two other States announced in the summer, plans for crypto-tax payments. In the latest case, in turn, Wyoming for investment in crypto opens currencies in the insurance sector. Companies in the insurance industry (and other sectors of the Economy) are allowed to invest no money in the highly volatile crypto products.
How big is the interest of the insurance world to BTC and co. is?
The Ensure that important capital that could be lost were probably especially. In March, it has now been corrected, the case law on this point, the correction or the new act comes into force on time on 01.07.2020 in force. The approval of such Bitcoin Investments and deposits in Altcoins like Ethereum or Litecoinfür insurance is, for many observers, nothing less than a milestone in the Opening up of the Investments-the Right for digital currencies. It will be interesting in this context, the question now is whether the Federal government will now actually play the hoped-for leading role, in order for other States to follow as quickly as possible. Of course, the new law applies not only to crypto-currencies such as Bitcoin.
Will be followed by similar laws in other U.S. States?
Instead, it is a new legal largesse with a view on the market for the so-called Digital Assets as a whole. The term of the digital asset is regulated in the law clearly, which is also a progress. Because US regulators like the SEC, may be hard to do for a long time, clear classifications of products such as Bitcoin or Stablecoins such as Facebook Libra or the JPM Coin of the US Bank JP Morgan Chase to make. Finally, it rained steadily, criticism of the stock exchange, because they had a lot of time for the examination of applications for the Bitcoin ETFs and negative examined. With a little luck Wyoming could trigger a trend reversal and at the same time, the temporarily depressed crypto market to considerable financial injections by very liquid insurance companies help.
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