A tax bill introduced in Wyoming state senate two days ago proposes to exempt cryptos form taxing. The bill was received favorably and, surprisingly, passed with 26 (for) / 3 (against) / 1 (excused).

Here's the relevant part form the bill:

The following shall be exempt from property taxation:
(vi) Any of the following intangible items:

• (A) Money and cash on hand including currency, gold, silver and other coin, bank drafts, certified checks, and cashier's checks; and virtual currencies. As used in this subparagraph, "virtual currency" means any type of digital representation of value
  that:
• (I) Is used as a medium of exchange, unit of account or store of value; and
• (II) Is not recognized as legal tender by the United States government.

I don't know how many people hold cryptocurrencies in Wyoming and I don't think this is necessary important now. What's important, though, it's the signal that this bill sends: "we won't tax cryptos".

It will be interesting to follow up during next months and see how many blockchain startups and exchanges will migrate to Wyoming.

I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me Hive account@dragosroua.

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