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The Green Sheet Online Edition

December 26, 2022 • Issue 22:12:02

Readers Speak: Do you transact in a crypto-unfriendly state?

Lee Beardsley, a team member at Journalist Research Co., relayed conclusions from a study conducted on the status of cryptocurrency in the United States, state by state:

"Vermont is America’s least crypto-friendly state, new research shows," Beardsley wrote. "Personal finance experts at DollarGeek, www.dollargeek.com, analyzed various factors relating to the availability and popularity of cryptocurrency in each state, including the number of cryptocurrency ATMs, crypto-friendly businesses, searches for crypto-related terms, and crypto job listings.

"They found that Vermont is the least crypto-friendly state in the country, with the state having zero cryptocurrency ATMs and zero job listings in crypto at the time of the study. Despite the state having a fair share of crypto-friendly businesses, with roughly 39 per 100,000 total, low search levels for terms relating to cryptocurrency means that the state takes the top spot as the least crypto-friendly state. "West Virginia takes the number two spot, with the state having the lowest interest in cryptocurrency of any state with a crypto search score of 40 out of 100. Additionally, there are a limited number of cryptocurrency ATMs in the state, with roughly six bitcoin ATMs per 100,000 people. There are also 2 crypto-friendly businesses per 10,000 total in the state and 22 crypto job listings per 100,000.

Coming in third place is Wyoming, which has a low four bitcoin ATMs per 100,000 people, 2 crypto-friendly businesses per 10,000, nine job listings in crypto from 100,000 total, and a crypto search score of 60 out of 100, indicating an interest in cryptocurrency despite the lack of facilities for it."

The most friendly states for cryptocurrency, according to DollarGeek, are Nevada, New Jersey and California, respectively taking the first, second and third spots.

Changes in crypto-acceptance attitudes?

Has the implosion of FTX caused your merchants to be leery of accepting cryptocurrency at the POS? What other headline-grabbing news has affected your client base this year? Has the result been negative or positive for your business? Share your thoughts on these questions and/or tell us about developments in payments of most importance to you at greensheet@greensheet.com. end of article

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