![]() Much of crypto’s appeal is there’s no middleman: Money can move freely between people without the involvement of government or traditional banks. Wyoming officials remain bullish on crypto, the digital currencies such as Bitcoin and Etherium based on decentralized, encrypted ledgers called blockchain. And if something goes wrong in the exchange, the default should be you get your money back - not having to worry about what the bankruptcy court is doing and all this nonsense.” “You should have full access to your money. ![]() “Keeping customers safe is really what we’re doing,” Yang said. Some of those new laws seek to discourage speculating with crypto bank customers’ digital assets, a suspected cause of FTX’s fall. “Basically they’ve passed a whole set of laws that makes it easier for me to do business.”Įven after the FTX collapse that wiped out potentially thousands of investors, Yang says he feels good about casting his lot with the least-populated state and its many new laws seeking to attract crypto and blockchain businesses. “We said, OK, what is the right place to locate out of? And Wyoming is the right place,” Yang said. ![]() business already has about a dozen employees, about one-third of the company’s global workforce, working in a downtown office building. But Yang says fledgling exchanges like the one he’s hoping will open for business in 2023 could be the start of an influx in the state. So far, there’s little sign of the crypto industry that Wyoming has courted for the past five years.
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