Blockchain-friendly Wyoming challenges Delaware's biz incorporation dominance
One business and law professor has argued that Wyoming’s liberal blockchain law could help the state compete with Delaware in the business incorporation arena. Amid the patchwork of state and federal regulations for crypto and blockchain firms, Wyoming seems to have established itself as a more progressive jurisdiction for companies involved in the novel technology.For Pierluigi Matera, professor of comparative law at the Link Campus University of Rome, these liberal blockchain laws could see the state chip away at Delaware’s preeminence in business incorporation in the United States.In a....
Related News
"More crypto companies are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws," said Caitlin Long. 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....
Will Texas follow in Wyoming’s footsteps to become the next crypto-friendly U.S. state? Everything is bigger in Texas, but when it comes to crypto-friendly legislation, this doesn’t seem to be the case… just yet. On March 12, 2021, Texas Representative Tan Parker introduced the Uniform Commercial Code, also known as UCC, amendment bill (House Bill 4474) to better adapt commercial law to blockchain innovation and digital asset regulations. Specifically speaking, the Texas UCC amendment bill aims to recognize virtual currencies under commercial law. Lee Bratcher, president of the Texas....
If 2016 marked the year that Delaware became the first US state to implement blockchain technology, 2017 will mark another first. This year, we expect companies will be able to file documents on our distributed ledger, in addition to current filing procedures. But while we're just one state in one country, this move is no small feat – a large majority of the "foundational" documents of finance including incorporation documents (that form the foundation of securities markets) and UCC filings (that form the foundation of secured lending) – are filed here. Delaware is home to more....
Saying the state has "the best laws for digital assets" in the United States, Senator Lummis asked the Tesla CEO if he would consider relocating. Following Tesla’s groundbreaking Bitcoin announcement, pro-crypto Senator Cynthia Lummis set out the welcome mat for Elon Musk in her home state of Wyoming.Taking to Twitter yesterday, Lummis invited the Tesla and SpaceX CEO to consider relocating to “one of the most business friendly states” with “the best laws for digital assets” in the United States. The offer followed the news that Tesla had purchased $1.5 billion in Bitcoin (BTC) and would....
Delaware to amend its corporate laws to allow implementation of blockchain technology for tracking stocks. Delaware, one of the hottest jurisdictions for incorporating companies, and the home to some of the leading corporates plans to streamline corporate governance by promoting blockchain adoption. According to a regional media outlet, the Delaware General Assembly could soon make necessary amendments to the state’s corporate law, facilitating the inclusion of distributed ledger technology for keeping track of stock owners. The plan to promote the adoption of blockchain technology among....