Crypto Regulation in Wyoming

Crypto Friendly

Wyoming is the most crypto-friendly US state, having enacted over 30 blockchain-enabling laws. It created the Special Purpose Depository Institution (SPDI) charter for crypto banks, legally recognized DAOs as LLCs, and exempted certain digital assets from state securities and money transmitter laws.

Region: North AmericaRisk Score: 20/100

Tax Information

Capital Gains (Personal)
0% state income tax (federal capital gains tax still applies at 0%-20%)
Capital Gains (Corporate)
0% state corporate income tax (federal 21% still applies)
VAT on Crypto
No
Staking Tax
No state-level tax; federal taxes apply
Airdrop Tax
No state-level tax; federal taxes apply
Mining Tax
No state-level tax on mining income; federal taxes apply
Summary
Wyoming imposes no state income tax, no corporate income tax, and no franchise tax. This makes it one of the most tax-friendly states for crypto businesses and individuals, though federal tax obligations remain.

Licensing & Registration

License Required
Yes
Regulator
Wyoming Division of Banking (Wyoming Division of Banking, Department of Audit)
Framework
Wyoming Digital Asset Law (HB 70, 2019); Wyoming DAO LLC Law (SF 38, 2021); Wyoming SPDI Act
License Types
Special Purpose Depository Institution (SPDI) Charter, Money Transmitter License (with crypto exemptions), DAO LLC Registration
Estimated Cost (USD)
$5,000 - $500,000 (SPDI charter requires significant capital)
Timeline
1-12 months
Ease of Licensing
Easy
Notes
Wyoming exempts digital assets from state money transmitter laws in many cases. The SPDI charter allows institutions to custody digital assets and hold crypto reserves. Wyoming was the first state to legally recognize DAOs as LLCs. Kraken (Payward Financial) received one of the first SPDI charters.

AML / KYC

KYC Required
Yes
Travel Rule
Yes
FATF Member
Yes
FATF Status
Compliant
Suspicious Activity Reporting
Yes

Mining

Mining Legal
Yes
Status
Legal
Electricity Cost ($/kWh)
$0.05
Renewable Energy
20%
Climate
Cold
Infrastructure
Excellent
Tax on Mining Income
0% state corporate income tax (federal 21% still applies)
Notes
Competitive electricity prices. Mining operations are economically viable.

DeFi, Stablecoins & NFTs

DeFi: legalStablecoins: general framework

Soken Services

Legal Opinion
Available | $2,000 - $8,000 | 7 days
Banking
Difficulty: Medium | Crypto-friendly banks: none listed
Min. Deposit
$10,000
Fiat Rails
ACH, SWIFT, Fedwire
Card Payments
Visa, Mastercard
Company Registration
$5,000 | 14 days | Limited Liability Company (LLC)
Licensing Support
Available | $15,000 - $50,000

Sources

Wyoming Division of Banking
Reviewed: 2026-03-01verified

Frequently Asked Questions

Is crypto legal in Wyoming?
Cryptocurrency is currently classified as "Crypto Friendly" in Wyoming. Wyoming is the most crypto-friendly US state, having enacted over 30 blockchain-enabling laws. It created the Special Purpose Depository Institution (SPDI) charter for crypto banks, legally recognized DAOs as LLCs, and exempted certain digital assets from state securities and money transmitter laws.
What is the crypto tax rate in Wyoming?
In Wyoming, the personal capital gains tax on crypto is 0% state income tax (federal capital gains tax still applies at 0%-20%), and the corporate tax rate is 0% state corporate income tax (federal 21% still applies). Wyoming imposes no state income tax, no corporate income tax, and no franchise tax. This makes it one of the most tax-friendly states for crypto businesses and individuals, though federal tax obligations remain.
Do I need a crypto license in Wyoming?
Yes, a crypto license is required in Wyoming. The regulator is Wyoming Division of Banking, Department of Audit under Wyoming Digital Asset Law (HB 70, 2019); Wyoming DAO LLC Law (SF 38, 2021); Wyoming SPDI Act. Estimated licensing cost: $5,000 - $500,000 (SPDI charter requires significant capital).
Is crypto mining legal in Wyoming?
Yes, crypto mining is legal in Wyoming. Electricity costs approximately $0.05/kWh. Mining income is taxed at: 0% state corporate income tax (federal 21% still applies). Competitive electricity prices. Mining operations are economically viable.
What are the AML/KYC requirements for crypto in Wyoming?
Yes, crypto businesses in Wyoming must comply with KYC (Know Your Customer) requirements. The FATF Travel Rule is implemented. FATF compliance status: compliant.