XRP, one of the largest cryptocurrencies in the world, the price rose to about 15% today. After Caitlin Long posted that, Ripple, the company behind XRP has registered a company in Wyoming
Ripple moves to Wyoming
The company dispute with the US Securities and Exchange Commission (SEC) had made it thought about pinching its tent where XRP will be accepted as a cryptocurrency
Wyoming is one of the states in the United States known for its efforts to create a friendly regulatory framework for cryptocurrencies. Much of this can be attributed to the efforts of Caitlin Long, a noted cryptocurrency supporter, and the founder and CEO of Avanti, a crypto-focused financial institution.
With that in mind, Long released the news yesterday and welcomed Ripple to Wyoming.
“Welcome to Wyoming, Ripple! More crypto cos are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws. People often as how many cos have relocated/redomiciled to Wyoming – we dunno. We don’t keep lists and we like it that way.”
Long also added a screenshot of the registration page where you can see that the name of the new entity is Ripple Markets WY LLC and it is already active. The first application deadline is February 11, 2020.
Ripple Markets WY LLC. Source: Twitter
It’s worth noting that all of this arose in the legal conflict between Ripple and the SEC. The committee alleged that Ripple conducted an illegal security issue and essentially claimed that XRP was a security. This has resulted in losses in the cryptocurrency, although in the ongoing bull market, the cryptocurrency has fallen more than 70% on the December news and it is still difficult to recover.
XRP price rose to about 15%
However, the past 24 hours have been very beneficial for XRP, likely because moving from Wyoming sparked a lot of discussions. XRP currently trading at around $0.60, the price rose around 15% but still far from the high of this year.
XRP/USD. Source: TradingView
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