As a burgeoning industry less than 13 years old, cryptocurrency has seen its fair share of regulatory crackdowns and changes, especially in the United States. Jake Yocom-Piatt, co-founder of Decred, however, sees the nation as the most crypto-friendly.
“Cryptocurrencies are treated as personal property in most jurisdictions, so their tax treatment is relatively uniform,” Yocom-Piatt said. He continued:
“Cryptocurrency transactions are a form of speech, so states where free speech is protected are the least likely to restrict cryptocurrencies. While the U.S. currently suffers from many substantial sociopolitical problems, the combination of its freedom of speech with protections against forced disclosure of passphrases makes it the most crypto-friendly country in the world.”
Since 2017, the crypto industry has suffered a number of regulatory actions from U.S. regulators, from initial coin offering lawsuits to charges against companies such as BitMEX. The nation’s Department of Justice has also recently put out crypto regulatory parameters.
Earlier this year, U.S. Representative Tom