A new survey has named New Hampshire the most crypto-friendly U.S. state.
That New Hampshire tops the list is a bit of a surprise given that the northeastern state has high electricity costs and lacks any Bitcoin (BTC) mining activity.
However, New Hampshire scored high due to its zero capital gains tax, lack of restrictive crypto regulations, and a network of crypto-accepting businesses and ATM machines.
Also, in May of this year, New Hampshire became the first U.S. state to allow the investment of public funds into cryptocurrencies such as Bitcoin (BTC).
The study was conducted by digital mining hardware maker ASICKey and evaluated all 50 U.S. states using seven factors: capital gains tax, regulatory environment, crypto adoption in business, job availability, ATM density, electricity costs, and mining presence.
New Hampshire earned the highest score — 71.22 out of 100 — with 4.4 crypto businesses and 9.3 ATMs per 100,000 people.
Wyoming was next highest on the list, scoring big for its blockchain job concentration, and getting points for low energy costs and minimal regulations.
Nevada, Texas, and Alaska round out the top five crypto-friendly U.S. states.
Texas was signalled out for its sizable crypto mining industry, while Alaska was noted for having a strong blockchain job market.
The study’s purpose was to highlight how tax structures and state policies shape the crypto landscape across the U.S.
Bitcoin, the largest cryptocurrency by market capitalization, is currently trading at $105,350 U.S., having gained 13% on the year.
