Could Spending Bitcoin From Personal Wallet Be Illegal In Wyoming? Community Questions New Bill
Bitcoin (BTC) is expanding in the world as a revolutionary technology and many countries are already accepting it and regulating the market. This is the case of Japan or Singapore that are creating legal frameworks for companies and individuals to have a clear landscape where to operate.
There are several individuals and experts that believe that Bitcoin is not going to last long or at least believe that the digital asset is a scam. Nouriel Roubini for example, a New York Professor, has been criticizing the digital assets on many different occasions. He said that decentralization in the crypto space is a myth because the system is more centralized than North Korea.
The U.S. state of Wyoming is currently trying to find a better path for cryptocurrencies. Caitlin Long, a 22-year Wall Street veteran part of the Blockchain forum, has been working in order for the state to create a flexible and clear legal framework related to Bitcoin and cryptocurrencies.
However, there are some critics that believe that this bill in Wyoming is anti-innovation and it goes against Bitcoin and cryptocurrencies. Spending Bitcoin from personal wallets could be considered illegal and there should be a clarification on the matter. Apparently, investors cannot self-custody their assets, thus using a digital wallet to manage Bitcoins could be illegal in the United States.
Caitlin Long has also explained that there will be three types of digital currencies recognized by Wyoming. At the same time, banks would also be able to opt into an enhanced regulatory regime for digital asset custody.
Regulations are expanding all over the world and governments are trying to impose clear rules on the crypto space. The intention is to allow investors to operate in a better environment, favorable to digital currencies and blockchain tech.
Other countries such as Switzerland or Malta are also trying to attract new investors and companies with their clear legal frameworks on the matter.