Finally, the legislature in the State of Kentucky passed a bill, sending it to the Governor for signature, which would provide tax breaks to crypto mining companies in an effort to attract them to the state.
This is a harbinger of what is to come on a much wider scale. The state of Kentucky is economically one of the least well-off states in the US. The legislators of the state have seen an opportunity to attract new business into the state to help them mitigate the problems they're having.
We're going to see many more governments, local or national, grab the opportunities present in crypto.
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I agree. There is going to be a race to draw more tech firms to these different states. We are going to see a lot of laws like this one passed in short order.
There will be a constant devaluing of what is required to get started in these states. That is only going to help kickstart some things.
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Getting governments onboard will remain an uphill battle in some regions. It's fascinating to observe how different different governments deal with crypto. Pakistan is crypto friendly whereas India is flirting with banning the whole industry.
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