Bitcoin Cowboys: Will Wyoming Become the Next Crypto Capital?
“Bitcoin Cowboys: Will Wyoming Become the Next Crypto Capital” premiered live at the Federalist Society’s 2022 National Lawyers Convention on November 11, 2022.
As SEC Chairman Gary Gensler has said, cryptocurrency is “standing astride” the regulatory system – not falling neatly into the historical regulatory framework created by federal agencies and state regulators.
Wyoming – a state renowned for cowboy towns and national parks – is taking steps towards becoming the cryptocurrency capital of the United States by adopting novel regulatory policies, including establishing the first Special Purpose Depository Institution (SPDI) bank charter that allows institutions to house cryptocurrency alongside USD deposits with 100% backing of digital assets. Will Wyoming’s unique approach allow it to become the center of this innovative industry, or will it be a cautionary lesson of what can go wrong when straying from established regulatory norms?
In this Fourth Branch video, regulatory and cryptocurrency experts discuss this question and more.
Assistant Professor of Law
Founder & CEO
Professor of History
University of Georgia
Duke Financial Economics Center