Ripple Labs is preparing to move to Wyoming and has already registered a new legal entity.
Ripple Markets WY LLC incorporated as a limited liability company in Wyoming and now has an official agent in the Cheyenne area.
The company mentioned its plans to change its jurisdiction last fall. Amid a protracted legal battle with the SEC, Ripple made the final decision to move to Wyoming.
Over the past 2 years, Wyoming has become an economica hub for crypto companies. In October 2020, the American crypto exchange Kraken received approval from the Wyoming Banking Council to become a crypto bank. Less than two weeks later, Avanti Bank & Trust received permission to accept and store cryptocurrency.
Following Tesla's investment in BTC, Senator Lamis invited Elon Musk to consider moving to the state.
Subscribe to ForkNews on Telegram to stay up to date with the latest news from the world of cryptocurrencies