4 Things That Make Washington State Great for Crypto Investors

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Being a crypto investor gives you the freedom to work from anywhere in the world. So does being in a crypto development team. Still, your life will be so much easier if you find a place with the right regulation, infrastructure, and general mindset toward this kind of crypto innovation. Washington State might just be one such place, and here are the top four reasons why.

1) Cryptocurrencies are regulated in Washington

One issue that many crypto investors are concerned with is regulation. They worry not just about strict regulation but also about the lack of regulation. This is because of the uncertainty of the potential direction that the regulation will take, and it makes startup investors and developers choose states that have already settled this issue.

Washington state was one of the first in the U.S. to come up with its own law. According to State Bil 5031, cryptocurrency exchanges are classified as money transmitter businesses, which allows them to operate within the state, provided they obtain an appropriate license.

Fortunately, all the major exchanges have managed to obtain the license, which allows them to operate freely within the state. This gives all the residents of the state a simple and clear way of handling these crypto transactions.

This means that you don’t even have to worry about using a VPN or finding those few exchanges that are available locally. They’re all available, and you have the privilege of picking and choosing whichever you like. Sure, research is needed to know which to invest in, but other than this extra effort, you really don’t have too much to worry about. The resources are ample, and you can easily find the right sources.

The bill also provides extra protection for the citizens because it ensures higher transparency. For instance, all the exchanges have to clarify whether the products are insured and guaranteed, provide a full list of fees and charges, and mention that all transfers are irrevocable (as they always are with crypto).

2) You can even access crypto casinos (sort of)

In Washington state, online gambling is not legal except on tribal territory. Even there, you would have to use their own app from the casino itself. However, there’s a sort of gray area that the majority of online players use.

Like in most places with a total betting ban, you can access casinos hosted outside of the state/country. This means that if you can find and access such a casino, you can place any kind of bet you want. So, it all comes down to finding the right crypto casino.

Still, what are these crypto casinos? Simply put, these are online sites where you can deposit, wager, and withdraw funds using cryptocurrencies. People prefer them because they’re simpler, safer (a crypto wallet doesn’t even require your real name), and quicker (crypto transfers are incredibly fast).

Also, keep in mind that the use of a VPN is completely legal and you can use it to protect your identity online. At the same time, crypto transactions already give you more anonymity and greater separation of your personal data from the activities you’re getting involved with online.

At the same time, using a VPN does not give you total immunity from your activities. For instance, many people in Washington use VPNs to watch streaming shows that are not available in the US. While this is not illegal, the service in question may interpret it as a breach of the user agreement and cancel your subscription or ban your account.

3) It’s home to a lot of great cryptocurrency startups

Perhaps the best indicator that Washington is, indeed, a crypto-friendly state is to list all the amazing cryptocurrency companies operating from here. Some of these businesses are:

• Stably: This is a company focused on providing asset tokenization and stablecoin infrastructure for emerging blockchain networks. Its fields of expertise are metaverse platforms and DeFI protocols. The stated objective of the firm is to facilitate the movement of capital from traditional to decentralized finance.
• Coinme: Unlike most crypto companies that started out after BTC exploded, Coinme is more than ten years old and is present in 48 states. Their main objective is to simplify the cryptocurrency process so that they serve as the best and the most trusted gateway for people looking to join the crypto world.
• Taro Finance: This asset tokenization platform is ideal for private market securities. Its specialty is private equity and venture capital, with white-label capabilities. The company was founded in 2022 but has already become a significant player in this field.
• Ekata: This firm has local data servers in all regions and is compliant with both GDPR and CCPA, which makes it a significant force in the market. Their field of expertise is identity verification data, which is of huge significance in the cryptocurrency field and, as such, has a massive impact on the industry.
• Aftermath Finance: This firm was founded in 2021, and it focuses on centralizing the exchange and minimizing all risks.

All in all, even if you are not a regular investor but plan to back crypto developers, there are a lot of firms operating from Washington. You should never downplay physical proximity to your investment when it comes to both security and peace of mind.

4) It has decent internet infrastructure

Washington is one of the states with the highest average internet speeds, just behind Maryland, Virginia, the District of Columbia, and Delaware. The cost of the internet is near the national average, which means that it’s neither the cheapest nor the most expensive. In other words, you get quite the internet speed for a relatively low cost.

Moreover, remote work culture is in full swing in this state, as well. This also means that it’s relatively easy to find the right coworking space. The online dating scene is vibrant and interesting (which is important for people working primarily from home).

The best part is that WA legislators have a great track record. For instance, when there was a federal vote to end net neutrality, WA was just one of a few states that passed its own net neutrality law. In practice, this means that while the rest of America rejoices that net neutrality laws are back, WA never had a problem with it because they took matters into their own hands.

It also means that if there’s similar federal legislation in the future, the chances are great that the legislators will, again, step up and protect their citizens. This type of certainty, combined with an already existent cryptocurrency legislation, provides a great deal of security (significantly greater than you would have elsewhere).

Washington is crypto-friendlier than you would expect

Washington state is one of the first to regulate cryptocurrencies, protect net neutrality on its own, and foster innovation through its many companies and startups. Other than that, it has a great and relatively inexpensive internet infrastructure, decent remote work, and collaborative space cultures, and it’s constantly moving forward on all of these fronts. This is what makes it so appealing to both crypto investors and developers.

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