Crypto-friendly US senator invites Elon Musk to move to Wyoming

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Following Tesla’s groundbreaking Bitcoin announcement, pro-crypto Senator Cynthia Lummis set out the welcome mat for Elon Musk in her house state of Wyoming.

Taking to Twitter yesterday, Lummis invited the Tesla and SpaceX CEO to think about relocating to “one of the enterprise pleasant states” with “one of the best legal guidelines for digital property” in the USA. The supply adopted the information that Tesla had bought $1.5 billion in Bitcoin (BTC) and could be accepting the crypto asset for funds.

Lummis’ press secretary Abegail Cave advised Cointelegraph that the state had developed a regulatory framework that rewarded innovation, notably within the digital asset area. She cited quite a lot of incentives that would doubtlessly draw the Tesla CEO to Wyoming, together with having no company or private state earnings tax.

“Tesla is all about innovation, and it is nice to see this American success story recognizing the worth of digital property,” mentioned Cave. “Ought to Elon Musk or his firms ever want a brand new house, they could not discover a higher place than Wyoming.”

Wyoming is changing into one of the enticing U.S. states for crypto and blockchain corporations. In September, the Wyoming State Banking Board granted crypto exchange Kraken a constitution to function as a crypto-friendly financial institution. The next month, regulators gave Avanti Bank & Trust the green light to obtain and custody crypto similarly.

Each corporations and others seeking to Wyoming as a regulatory protected haven have been assisted by efforts from Caitlin Lengthy, a former Wall Road government and present CEO of Avanti Financial institution. Lengthy, related to the Choose Committee on Blockchain, Monetary Expertise and Digital Innovation Expertise within the state legislature, has helped enact many blockchain-enabling laws in Wyoming.

Lower than a month into her first time period as a U.S. senator, Senator Lummis mentioned she is going to concentrate on legislating digital property. Final week, she was assigned to the Banking Committee, chargeable for monetary regulation within the nation.