Blockchain-based payments firm Ripple Labs has now registered a business in Wyoming.
According to records from the Wyoming Secretary of State, Ripple Markets WY LLC’s status as a local business is listed as “active” after an initial filing in February 2020. As a limited liability company in Wyoming, Ripple’s registered agent will be based in Cheyenne.
“More crypto companies are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws,” said Caitlin Long on Twitter.
Long is the CEO of digital bank Avanti Bank & Trust and associated with the state legislature’s Select Committee on Blockchain, Financial Technology and Digital Innovation. She said crypto firms like Ripple should consider relocating to Wyoming due to the state not having any corporate or franchise taxes, and cryptocurrencies being exempt from property and sales tax.
In addition, there is the presence of U.S. Senator Cynthia Lummis. The Wyoming lawmaker is one of the first to say digital assets will