Arizona, Texas, and Utah lead the US states in cryptocurrency regulations, as investor attention turns to “US Crypto Week,” which may see Congress pass three key pieces of legislation.
Arizona, Texas, and Utah currently lead the nation in blockchain policy, and the “Tokenized in America” research report by Chainlink and the Blockchain Association recognizes them as “trailblazers” in the field.
The report evaluated the states based on their government-led blockchain pilots, active pro-crypto task forces, state congressional support, blockchain workforce concentration, strategic Bitcoin reserve initiatives, and their active membership in the North American Blockchain Association (NABA).
“Texas, Arizona, and Utah earned Trailblazer status for their strength in both policy and ecosystem development,” the report noted. It added that other leading states, including “North Carolina, California, New Hampshire, and Wyoming, demonstrate strong engagement across several scorecard categories.”
“With so much occurring at the federal level, we cannot overlook the substantial activity occurring in the states,” wrote Adam Minehardt, head of policy for Chainlink Labs.
He added: “Tokenized in America shines a light on the important role these states play in digital assets, providing insight into the opportunities and challenges that lie ahead.”
At least 50% of US states have strong congressional representative support on blockchain policy, while 36% maintain an active pro-crypto task force.
Over 22% of the states have an active blockchain pilot program, while 16% have enacted or are currently pursuing a strategic Bitcoin reserve.
US Crypto Week Spurs Investor Anticipation for Fresh Regulations
The US government released the regulatory scorecard during a significant week for blockchain regulation, a period it dubbed “Crypto Week.”
“This week marks a turning point, with several bills expected to pass that will provide much-needed clarity for the industry,” stated Farzam Ehsani, co-founder of crypto trading platform VALR.
US lawmakers seek to pass three key cryptocurrency bills. These bills aim to bolster industry improvement and offer more clarity for stablecoin issuers: the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, the Digital Asset Market Clarity Act (CLARITY Act), and the Anti-CBDC Surveillance State Act, which seeks to prevent the creation of a central bank digital currency (CBDC).
While industry leaders state the CLARITY Act is far from perfect, its passage through Congress may help the US become a world leader in digital asset policy.
