Bitcoin is entering a new phase of adoption as states and countries compete to pull the booming business of bitcoin within their borders. Wyoming and parts of Florida have also signaled their desire to attract the cryptocurrency industry through the passage of "crypto-friendly" laws and regulations.

Every state legislature should be considering, among other potential incentives, whether a short term tax exemption is worth the potential long term funding to be secured by facilitating this bourgeoning industry that is still very much in its early days.