It might come as a surprise to know that Wyoming stands out as a particularly welcoming state for cryptocurrency, an industry that is flourishing in the “equality state.”

Over the past two years, Wyoming has enacted 13 laws related to blockchain, the foundational technology behind cryptocurrencies. These laws have been formulated to safeguard blockchain innovation in the state, which has embraced blockchain more vigorously than any other state. So, why has Wyoming, a state with less than half a percent of the total U.S. population, become a hotspot for this industry?

The reason lies in the conducive environment that Wyoming offers for the growth of blockchain technology, as noted by lawmakers and advocates. The political landscape in Wyoming differs significantly from that of most other states. Its politics are less polarized compared to much of the rest of the country, with a political scene that pits social conservatives against socially moderate libertarians. Both groups view blockchain as a solution to government overreach. While blockchain and cryptocurrencies appeal to a broad audience, economic libertarians have shown a stronger affinity for the decentralized nature of blockchain than any other specific political group.

Wyoming presents a valuable alternative to the stringent regulatory environments found in states like New York. Lobbyists have been drawn to Wyoming to champion blockchain-friendly policies, and their efforts have been notably successful. While Wyoming may seem remote and uneventful on the surface, it turns out to be an ideal environment for the flourishing of blockchain and cryptocurrency. If you’re considering launching a blockchain startup, Wyoming could be the perfect destination for you.