California fintech company Ripple Labs registered a new legal entity in Wyoming. This is evidenced by a record on the сайте Секретариата штата.
The status of Ripple Markets WY LLC has been updated to active. The initial filing date was February 11, 2020. The entity’s office is in Cheyenne.
Ripple’s headquarters remains in San Francisco. In October 2020, Ripple cofounder Chris Larsen said о вероятной смене of jurisdiction to a more crypto-friendly one. He said the United States has too stringent regulation of the cryptocurrency industry.
In December, Ripple CEO Brad Garlinghouse said that the organization had taken wait-and-see stance on relocation after Joe Biden was elected president of the United States.
The decision was welcomed by Avanti founder and CEO Caitlin Long. She said more and more companies are choosing Wyoming over Delaware, another crypto-friendly state.
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 December 2020, Avanti obtained the status of a financial institution from the Wyoming Banking Board. Earlier, state authorities approved a similar application from the Kraken bitcoin exchange.
In January 2019, Wyoming passed a law equating cryptocurrencies with money.
To equate Bitcoin with money — how can a single state become a trendsetter in the United States
As a reminder, in December 2020 the U.S. Securities and Exchange Commission (SEC) charged Ripple with selling unregistered securities in the form of tokens worth $1.3 billion.
In February 2021, the SEC filed an amended complaint, clarifying the responsibilities of Ripple’s CEO Brad Garlinghouse and cofounder Chris Larsen.
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