Cryptocurrency
Colorado Could Be Next in the Race to Bank Crypto (and Cannabis)
As reported by CoinDesk, “Colorado could be the next Wyoming. “Following the Cowboy State’s passage of 13 blockchain-friendly laws earlier this year, its neighbor to the south is now looking to help crypto companies get bank accounts. “Earlier this month, Colorado’s Office of Economic Development & International Trade (OEDIT) hosted the first meeting of a working […]
As reported by CoinDesk, “Colorado could be the next Wyoming.
“Following the Cowboy State’s passage of 13 blockchain-friendly laws earlier this year, its neighbor to the south is now looking to help crypto companies get bank accounts.
“Earlier this month, Colorado’s Office of Economic Development & International Trade (OEDIT) hosted the first meeting of a working group focused on legislation to authorize the creation of special-purpose banking institutions in the state.
“To some degree, the proposed bill will likely emulate the Special Purpose Depository Institutions (SPDI) law passed in Wyoming. Indeed, thanks to Wyoming’s work on blockchain legislation, Colorado (and other U.S. states) can save time and effort by perusing 200 pages of legislation, chock-full of banking complexity.
“Colorado’s new special banking working group, convened by the OEDIT, continues the work done over the last 12 months by the Colorado Blockchain Council. In March, Colorado signed its Digital Token Act, also similar to Wyoming’s token law…”
Track the current price of Bitcoin, Ethereum, Ripple and altcoins here.