- Ripple has registered a new entity in Wyoming.
- The move comes amid Ripple’s legal battle with the SEC.
- Last year, Wyoming gave green light to Kraken and Avanti to launch “crypto banks.”
Ripple has registered a new entity in Wyoming, the state famed for being friendly towards cryptocurrency companies.The move comes amid the legal battle between Ripple and the US Securities and Exchange Commission (SEC), with the latter accusing the fintech company of raising .3 billion in unregistered securities sales since 2013.
The news was broken on Sunday by Caitlin Long, founder and CEO of Avanti Bank & Trust and former member of the Wyoming Blockchain Task Force. According to Wyoming Secretary of State records, Ripple Markets WY LLC is now active in the region. The initial filing dates back to February 11, 2020.
“Welcome to Wyoming, Ripple,” Long tweeted. “More crypto companies are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws.”
The new company’s principal office is still based in San Francisco and has the same address as Ripple Labs, which is incorporated in Delaware.
Ripple has denied the charges, asserting that the regulator should treat XRP in the same way it treats Bitcoin or Ethereum. Last October, Ripple Executive Chairman Chris Larsen suggested that the company could move abroad if the US doesn’t create a regulatory environment that would