Cryptocurrency 2021 Legislation

State: Bill Number: Bill Summary: Alabama HB 372 This bill exempts virtual currency, herein defined, from ad valorem taxation. Alaska None   Arizona HB 2544Passed House 2/23/21 Establishes a  blockchain and cryptocurrency study committee. Arkansas SB 150Passed Senate 3/3/21 Amends the Uniform Money Services Act, includes virtual currency. California None   Colorado None   Connecticut…

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How Does Bitcoin Mining Work?

What is Bitcoin Mining? Cryptocurrency mining is painstaking, costly, and only sporadically rewarding. Nonetheless, mining has a magnetic appeal for many investors interested in cryptocurrency because of the fact that miners are rewarded for their work with crypto tokens. This may be because entrepreneurial types see mining as pennies from heaven, like California gold prospectors in…

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Bitcoin Mining

What Is Bitcoin Mining? Chances are you hear the phrase “bitcoin mining” and your mind begins to wander to the Western fantasy of pickaxes, dirt and striking it rich. As it turns out, that analogy isn’t too far off. Bitcoin mining is performed by high-powered computers that solve complex computational math problems; these problems are…

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