Blockchain-Based Payments Firm Ripple Registered a Business in Wyoming

cryptoknowmics.com 2021-02-22 12:05
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Ripple, a blockchain-based payments firm, has now registered a business in Wyoming. Wyoming Secretary of State released records after an initial filing in February 2020 revealing the status of Ripple Markets WY LLC as a local business is listed as active. The registered agent of Ripple is going to be based in Cheyenne as a limited liability company.

Ripple: Blockchain-based Payment Company Registered a Firm in Wyoming

Caitlin Long, the CEO of Avanti Bank and Trust, a digital bank, released a statement on Twitter that read:

“More crypto companies are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws.”

WELCOME TO #Wyoming, @Ripple! More #crypto cos are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws. People often ask how many cos have relocated/redomiciled to Wyoming–we dunno. We don't keep lists & we like it that way #XRP @Mark_Gordon_WY🤠 pic.twitter.com/zsUApz25Jy

— Caitlin Long 🔑 (@CaitlinLong_) February 21, 2021

In addition to this, Caitlin is associated with the Select Committee on Blockchain of the state legislature, Digital Innovation, and Financial Technology. 

In her statement, she said it would be beneficial for Ripple to consider relocating to Wyoming as the state does not have any franchise or corporate taxes, also, the cryptocurrencies are spared from sales and property taxes. 

The Wyoming Lawmaker, U.S. Senator Cynthia Lummis, is now on the list of first people to say that digital assets are going to be a key part of their legislative agenda. In response to the Ripple news, the state policy director revealed many individuals were “maximalist on Wyoming.”

Wyoming: Most Attractive U.S. States for Crypto Firms

In recent times, Wyoming has emerged as one of the most attractive states of the United States for crypto and blockchain firms. However, it is still not clear whether Ripple will be shifting its headquarters to Wyoming as the principal office of the blockchain firm is based in San Francisco

Chris Larsen, the Co-Founder, and Brad Garlinghouse, the CEO of Ripple, have recently revealed their irritation with the apparent lack of clarity in regulations on blockchain and crypto in the United States.

Senator Cyntia, also invited Elon musk, the CEO of Tesla Motors, to consider relocating to Wyoming when it was revealed that Tesla has invested $1.5 billion in BTC.