Alaska Authorities Will Require Blockchain Companies to Obtain a License

Starting next month, the authorities of the US state of Alaska will require all blockchain companies and startups to obtain a license that gives them the right to serve residents of the state.

In addition, the definition of the term “virtual currency” will appear in local legislation.

According to the State Administrative Code, virtual currency is a digital instrument that has value and can be used as a medium of exchange and store of wealth.

All companies or individuals that provide services for the storage and transfer of digital currencies must apply to the supervisory authorities for the appropriate license.

The new order will come into force on January 1, 2023. At the same time, Alaska is one of nine US states that have a zero tax on income for cryptocurrency investors.