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Ripple now registered as a Wyoming business

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.

Caitlin Long said on Twitter that “More crypto companies are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws.”

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 stated that 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.

Additionally, there is the presence of U.S. Senator Cynthia Lummis. The Wyoming lawmaker is one of the first to say digital assets will be a key part of her legislative agenda. Responding to the Ripple news, Lummis’ state policy director noted many people were “maximalist on Wyoming.”

According to Cointelegraph, it does not appear as if Ripple will move its headquarters to the crypto-friendly state as its principal office is still listed as San Francisco. Nonetheless, both Ripple co-founder Chris Larsen and CEO Brad Garlinghouse have said that they are displeased with the seeming lack of regulatory clarity on crypto and blockchain in the United States.

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