Positive Crypto Markets Outlook, As New York And Wyoming Lead The Way

New York City is set to unveil a Blockchain center as Wyoming endorses Crypto-friendly motions. The latest development in Blockchain and Cryptocurrency ushers in a positive outlook for the industry as the world ushers in 2019.

Notably, in the USA, different states are competing to be the industry’s haven in the midterm and long term. The primary motive is to create more jobs for local experts and to imitate the Silicon Valley strategy that has catapulted California’s Bay Area, the City of Los Angeles and Orange County into global prominence in the prevailing internet technology.

New York City Blockchain Center To Open Its Doors To All

The exercise to unveil the New York Blockchain center falls under the mandate of the New York City Economic Development Corporation (NYC EDC). This body is charged with the responsibility of identifying emerging industries and providing different resources to nurture its development, and adoption in the realm of existing industries such as banking, insurance, e-commerce, real estate, healthcare provision, etc.

The agency has since selected the Global Blockchain Business Council Future and Future\Perfect Labs to get the project off the ground and operate the physical center.

The New York Blockchain center will be situated in the Chelsea area where Blockchain startups and developers will be able to access mentorship training, business support, and working shared space.

Interestingly, the Center will extend educational services to members of the public wishing to expand their understanding of Blockchain technology and Cryptocurrency usage.

Furthermore, it will also be a place for bringing together Blockchain and Cryptocurrency industry stakeholders such as academics, innovators, investors, government policymakers, and industry leaders. This undertaking will enable the City of New York to develop a regulatory framework that is all-rounded by promoting DLT innovation and consumer safety.

One executive director from the NYU Entrepreneurial Institute, Frank Rimalovski, is excited about the NYC Blockchain Center as many people are now interested in the DLT and Crypto industry.

Wyoming Endorses Crypto-Friendly Bills

Meanwhile, in the Rocky Mountains region, the state of Wyoming is planning to attract crypto businesses to the state. Its state legislature members have already passed two bills to this effect.

wyoming

The first bill is dubbed as The Wyoming Utility Token Act-property amendments bill. It is designed to recognize Digital Tokens as intangible personal property in Wyoming in order to ensure that securities laws apply to Cryptocurrencies.

The Financial Technology Sandbox Act is the other bill. It seeks to create a legal sandbox for piloting financial products and services in the state.

These bills reaffirm the position that Wyoming is one of the most Blockchain and Crypto friendly states the US. In this regard, the proposals are meant to ensure that the regulatory environment fosters growth and development in the industry as well as facilitating Cryptocurrency adoption.

Regional Efforts To Make The US A Blockchain And Crypto Haven

The New York City Blockchain Center and the endorsement of two Crypto-friendly bills in Wyoming are a step closer in making the USA a Blockchain and Cryptocurrency haven.

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