Cryptocurrency bank to be opened in Wyoming

Cryptocurrency bank to be opened in Wyoming
Cryptocurrency bank to be opened in Wyoming

It is planned to open a state-owned cryptocurrency bank in the US state of Wyoming.

This was discussed at a meeting of state senators with businessmen. According to local media, now in Wyoming are considering the creation of a bill that would regulate the crypto bank.

This bank will serve the needs of companies from the blockchain industry.

The task of the crypto bank will be to store funds both in digital currency and in traditional money. This will help blockchain enterprises to quickly penetrate into economic processes – now not all banks are ready to serve such organizations.

However, the crypto bank will have slightly fewer functions compared to a classic bank. For example, an institution will not be able to issue loans. Therefore, it will have to provide support for digital assets to fiat money at 100%.

Reports of crypto banks are not uncommon in the media. So, recently there was news that a Swiss startup attracted more than $ 100 million to open such a bank. This step will help the Swiss government to develop a complete regulatory framework that will regulate blockchain technology quicker. In turn, this will contribute to the growth of crypto assets in the country, experts believe.