In the US state of Wyoming, cryptocurrency users interested in sports will also be able to pay their bets with online betting providers using cryptocurrencies in the future.
The corresponding legal regulation was already adopted on Monday in the office of the State of Wyoming. The bill, called House Bill 133, which will come into force on September 1, primarily aims to legalize online sports betting USDT. Wyoming is the second US state to legalize online sports betting.
According to the bill, cryptocurrencies will be recognized as a valid means of payment for wagering
As stated in article 1 of the draft, cryptocurrencies, digital currencies and other virtual currencies should be considered equivalent to money, which means that they can be used in the same capacity for sports betting.
In addition to cryptocurrencies, other payment methods are also available to players, including checks, bank transfers, credit card payments, and online payments.
In order to be allowed to operate as an online sports betting provider under the new Wyoming law, qualifying service providers must already offer sports betting in at least three other states.
The inclusion of cryptocurrencies in the law is another indication of the open position of the state regarding the asset class. This makes Wyoming the first US state to accept cryptocurrencies as a means of payment. On the other hand, in the UK, Bitcoin and company have been allowed for online sports betting since 2016.
With such an open attitude towards the crypto industry, Wyoming is becoming more and more interesting place, which in this respect is even quietly competing with the previously leading state of Delaware. Cryptocurrencies have been exempt from the Wyoming Securities Act since 2018.
In February, Caitlin Long, chief executive officer of Avanti Financial Group, noted that crypto companies are enjoying regulatory incentives opening up in Delaware and Wyoming.
Also Read: Can You Bet Online With Cryptocurrency?
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