New Hampshire has emerged as a prominent supporter of cryptocurrency, as demonstrated in a recent study ranking U.S. states based on their crypto-friendliness. Despite the state’s high electricity prices and minimal Bitcoin mining activities, New Hampshire excels due to the absence of capital gains tax and non-restrictive digital currency regulations, as well as a high concentration of businesses and ATMs accepting digital currencies.
What are the Top Crypto-Friendly States?
Conducted by ASICKey, a company specializing in cryptocurrency mining equipment, the study examined 50 states using seven weighted criteria. These parameters included capital gains taxes, regulatory clarity, business adoption of crypto, cryptocurrency-related job openings, density of crypto ATMs, electricity costs, and Bitcoin mining presence. Taxation policies and the frequency of business use greatly influenced these rankings.
New Hampshire earned a score of 71.22 on a 100-point scale, with an impressive ratio of 4.4 crypto businesses and 9.3 ATMs per 100,000 inhabitants. Wyoming came in second, attributed to its exceptional blockchain job density—118.4 positions per 100,000 people—and low energy expenses. Nevada, Texas, and Alaska also shined, each boasting distinct advantages such as broad crypto business networks, major mining operations, and a thriving blockchain job market, respectively. Notably, none of these top states impose capital gains taxes.
How Does Crypto Ease Influence Economic Opportunities?
The economic impact of cryptocurrencies was assessed by studying job markets and infrastructure. Wyoming excels with its robust blockchain employment sector, whereas Texas dominates in mining activities, and Alaska sees its blockchain job prospects flourishing.
New Hampshire and Nevada revealed high densities of ATMs and businesses that accept Bitcoin, indicating prevalent crypto acceptance surpassing the national norm.
Opinions from industry specialists added depth to these findings. John Smith, ASICKey’s head of research, noted:
“Crypto-friendly policies enable states to advance swiftly in this area. This creates significant opportunities for both investment and employment.”
Key insights from the study reveal that prime states in the U.S. for cryptocurrencies predominantly avoid capital gains taxes and implement supportive crypto regulations. States like New Hampshire, Wyoming, Nevada, Texas, and Alaska potentially set the stage for expansive adoption and growth due to their clarity in regulatory practices and robust job market, prompting stakeholders to leverage these strategic advantages for investment and industry growth.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/new-hampshire-leads-crypto-friendly-states