When it comes to cryptocurrency regulations, lawmakers are jousting with different opinions and viewpoints. Some believe that Bitcoin should be regulated, while others are firm that Bitcoin should be left to its own devices.
Before legislators can take action, they must understand the nature of Bitcoin and other cryptocurrencies. This is a great challenge because the Blockchain Technology must be understood, as well as its impact on different industries. Even though many experts think that US is a step behind Bitcoin regulation, there seems to be ongoing progress this 2017.
Let’s take a look at the current regulation landscape in five prominent US States: Washington, Illinois, Hawaii, California, and Florida.