Just to be clear, cryptocurrence is not money that a person can hold in their hand. Bitcoin is not an actual coin. It is virtual reality money that exists online only.

According to Bloomberg News, it all began when Republican Governor Matt Mead signed sweeping legislation that gave us laws that would attract blockchain companies. “This is one of the most exciting things that I have seen in a decade as far as the possibilities,” says David Pope, an accountant who’s also executive director of the Wyoming Blockchain Coalition, which lobbied for the changes.

Since the law has been enacted the state has seen a virtual title wave in registration and filing fees alone would bring loads of fresh cash into the state with 2 or 3 companies registering every day.

But in February, the SEC started its own war on virtual tokens. “What Wyoming has tried to do is identify areas that are within the scope of state securities and financial-services law,” says Jeff Bandman, a former top financial technology adviser at the Commodity Futures Trading Commission who now runs Bandman Advisors, a consulting firm. “I don’t think Wyoming is going to get in a fight with the SEC.” So far the SEC has chosen not to comment on the Wyoming laws.

James Row, a registered broker for more than two decades is considering moving at some of his 11 businesses registered from Delaware, to Wyoming. “It’s cheaper and easier from a corporate filing perspective," he explains. "Wyoming is proving that it’s being pro-business and anti-bureaucracy.”

Other states area ready for follow Wyoming's lead. Right now Wyoming is the best place to start up this new virtual business.