: Im not an expert on cryptocurrencies like bitcoin and I dont want to fake that I am. But if you want to understand these new assets, Eric Wade of Stansberry Pacific Research has you covered. Today, he says a recent development could be a promising step forward for the U.S. crypto industry…

Wyoming may be the least populous state in the U.S… but it could soon become the worlds new Crypto Valley.

Crypto entrepreneurs have come running to the state, thanks to regulation Wyoming passed in March 2018. Those changes made it easier to start crypto-related limited liability corporations (LLCs). Now, as many as three new crypto-related LLCs are launching in Wyoming every day.

But that was just the beginning.Wyoming recently passed a new bill that classifies crypto as money.

This is important because it establishes a rule that crypto investors who come to Wyoming can count on. And it could impact the future of crypto for decades to come…

Wyoming, with less than 0.2% of the U.S. population, certainly isnt creating rules that the rest of the country is obliged to follow. But other states and eventually the U.S. federal government could follow its lead if its policies lead to financial success.

You see, the federal government, its agencies, and U.S. states cant agree on how to handle cryptos. Right now, four different authorities in the U.S. see cryptos different ways…

TheU.S. Securities and Exchange Commission (SEC), which oversees securities markets, considers virtually all of the more than 2,000 cryptos on the market to be securities. It makes exceptions for the widespread bitcoin and Ethereum, though which means more than half the market is not covered by the SEC.

Another U.S. regulator, theCommodities Futures Trading Commission (CFTC), controls commodity futures and derivatives transactions. It has labeled cryptos as commodities and claims the power to regulate the industry.

Yet another regulator, theFinancial Crimes Enforcement Network (FinCen), sets Know Your Customer (KYC) and Anti-Money Laundering rules in the U.S. It considers cryptos and tokens a form of money. So it requires crypto companies to register with the government, collect KYC documentation on their customers, and report any suspicious financial transactions they encounter.

Lastly, theInternal Revenue Service (IRS), which collects taxes, has determined that cryptos are properties, not currencies. That means every time a U.S. citizen sells cryptos for a profit, he or she must pay capital gains tax on the transaction.

Put it all together, and you have four different U.S. government bodies that consider cryptos four different things creating a tangle of regulations.

You can see why Wyomings decision has the potential to break new ground.

Other U.S. states are regulating cryptocurrencies in their own ways. Wyomings pro-crypto policies have attracted a wave of crypto investments… while New Yorks cumbersome regulation, for example, is doing the opposite.

New York began setting rules for the crypto industry before most other states had even heard of bitcoin. Its controversial Bitlicense which is a business license for virtual currency activities went into effect in August 2015.

The licensure process has cost some companies more than $100,000 in fees and legal work, and it can take three years or longer for a company to gain approval. The result? Fewer than 20 companies have gotten a Bitlicense, and several high-profile crypto companies simply choose not to do business in New York.

The U.S. regulatory landscape is a microcosm of what were seeing around the world. Some countries have created crypto-friendly legislation, while others have chosen to over-regulate the industry slowing the rise of crypto industries in those countries.

For example, in 2013, China first created rules around bitcoin and blockchain (the technology behind bitcoin). Today, it has a pro-blockchain/anti-crypto stance.

But as the Chinese say, you cant have both the fish and the bears paw.

Chinas back-and-forth stance has created a lot of confusion and contradictions when it comes to cryptocurrencies, specifically bitcoin. While citizens can own them, they cant exchange cryptos for real money. That means they can operate crypto miners the powerful computers that secure the bitcoin network in exchange for a reward but they cant swap those rewards for fiat money.

In response, big Chinese crypto mining companies have simply moved offshore.

Meanwhile, Japan was one of the first countries to legally recognize bitcoin as a means of payment. That has helped it become one of the worlds largest crypto markets.

Despite licensure requirements, Japans annual crypto transactions are now approaching $100 billion a year. More than 3.5 million citizens trade cryptocurrencies there.

In short, crypto regulation can attract new investment or drive it away. By defining cryptos as money, Wyoming is looking to regulate in a way that fosters growth.

The states rush of new economic activity has gotten the attention of lawmakers across the U.S. This should force U.S. regulators to take a hard look at the results of over-regulation and encourage them to follow Wyomings lead.

Its only a matter of time. And as the regulatory landscape stabilizes, U.S. crypto investors will see fantastic profits in the years ahead.

Editors note: This is just one reason Eric believes the next crypto bull market is around the corner. Recently, he released a report on a big event thats approaching for cryptos one that could cause a massive amount of money to flow into the space. And as it all plays out, he expects a small group of little-known cryptos could soar by hundreds, or even thousands of percent…Get the full story here.

You wont hear about it in the mainstream media… but the cryptocurrency revolution is just getting started, Eric writes. Earlier this week, he discussed how investors, developers, and entrepreneurs are laying the groundwork for a massive shift in finance. Read more here:Three Reasons the Crypto Boom Is Just Beginning.

Despite the over-the-top hype surrounding blockchain, I believe the prospects for bitcoin are brighter than ever, Alan Gula says. Learn more about the underlying technology behind bitcoin and how the cryptocurrency could be poised to move higher right here.

Todays chart shows the value of owning an industry leader

As longtime readers know, we like to own the best companies in their fields. These tend to be strong businesses with reliable customer bases, strong balance sheets, and steady sales. Todays company is one of the worlds top consulting firms

Accenture (ACN) advises management teams on broad strategy and general operations. Most notably, it also helps businesses adapt to new technologies. Its clients include more than three-quarters of the Fortune Global 500, and 97 of its top 100 customers have been with Accenture for at least 10 years. Thats a recipe for success And its not wasted on this consulting giant. The company hit $10.5 billion in sales for the most recent quarter a 5% increase over the year before.

As the chart shows, ACN shares have more than doubled over the past five years, and they recently hit fresh all-time highs. As long as important customers value Accentures expertise, the cash should keep flowing in

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Click here to get immediate accessRecent ArticlesInvestors Are Piling Into This Group of Stocks With Reckless AbandonByAlan GulaThe Final Stage of the Melt Up Is HereBySteve SjuggerudOur Last Window of Opportunity to Buy StocksBySteve SjuggerudA Ticking Time Bomb for Todays Bull MarketByMike DiBiaseThis Major Market Tailwind Is Hiding a Dirty SecretByMike DiBiaseRecent Market NotesTHIS BORING MEAT BUSINESS IS A LONG-TERM WINNERFriday, May 10, 2019INVESTING IN THE MODERN LOVE STORY PAYS OFFThursday, May 9, 2019MORE SUCCESS FOR THIS ELECTRONIC-PAYMENTS LEADERWednesday, May 8, 2019IT MAY NOT BE FLASHY, BUT IT WORKS…Tuesday, May 7, 2019HIGHS AND LOWSMonday, May 6, 2019Dr. Steve SjuggerudEditor ofDailyWealth

Dr. Steve Sjuggerud is the Founding Editor of DailyWealth and editor of True Wealth, an investment advisory specializing in safe, alternative investments overlooked by Wall Street. He believes that you dont have to take big risks to make big returns.

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