Unlike Nigeria, Wyoming is creating a Bitcoin and crypto-friendly destination
Recent events have brought more interest in crypto. Elon Musk famously shilled doge to close to the top of the pile in this very volatile market and then there was that $1.5 Billion purchase earlier. FOr people like Senator Cynthia Lummis of Wyoming, this was an opportunity to bring business from one of the wealthiest men in the world to her state.
Wyoming is slowly growing into one of the better crypto-friendly locations in the United States.
“More crypto companies are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws,” said Caitlin Long on Twitter.
Caitlin 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.
This information came at a time when Ripple Markets WY LLC, a subsidiary of Ripple Labs is officially registered as a local business after an initial filing in February 2020.The main company still stayed in San Fransisco, but for how long?
Unlike most parts of America, crypto companies in Wyoming get to enjoy numerous tax exemptions that include property and sales tax.
The development distinctly differs from my country where the government are intentionally desensitized and talk utter rubbish to sway public opinion against it. Sadly, nobody believes anything the government says anymore, so I hope it won't make much difference.
What about Nigeria?
it is really embarrassing to see the central bank of my country coming on live television to say that cryptocurrencies are printed out of thin air. He doesn't even understand crypto to blockchain level and constantly spouts crap about it.
In a weird turn of event, the vice president contradicted the governor of the central bank by dropping a mildly bullish tweet that partially endorses cryptocurrencies in Nigeria.
https://twitter.com/ProfOsinbajo/status/1365300799535009793
It is not unusual for disconnects like this to happen in Nigeria. The entire country is currently on cruise control, as our bewildered democratically elected dictator continues steering the economy down the toilet.
Their fight against cryptocurrencies in Nigeria is clearly disjointed and just like everything else, it lacks planning and any coherency. However, the ban on crypto companies in Nigeria still stands and banks have to distance themselves from such entities.
Oh well
Governments are still trying to understand the whole idea of people controlling their own finances, in a place that's safe from their manipulations. If it were left to most of them, they would probably just kill the whole industry because politicians generally hate what they can't manipulate.
However, looking at the United States, a country that still has a divide in terms of crypto acceptance, make moves of this nature is pleasant to read. How I see it, having more people from the US on our side is good for business because, well, they're rich.
I think that is why it is refreshing to see actual government officials moving towards creating a crypto-friendly environment. Maybe one day I'll move to that state and could just pay my school fees with Bitcoin or something, as I sort out my emigration plans.
https://twitter.com/belemo__/status/1366390247836237829
https://twitter.com/belemo__/status/1366390976915333121
@tipu curate
There's a divide in opinion in aso rock about this ban and you could see this through osibanjo who despite being part of the terrible regime understands that blockchain and crypto is the future.
Upvoted 👌 (Mana: 11/22) Liquid rewards.
They're a confuses set of people. Bottom barrel
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Typical of any politician in my place. Some is making statement just to confuse people, not to help or explain better. i am still a bit lucky that my country are crypto friendly.
hope your government can do better move about the crypto situation
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Cryptos are indeed printed out of thin air,but what about fiat?
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That's what makes me so damn sad man. How can the central bank governor not just do proper research before making a speech?
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Nigeria looks like a confused country right now,anyways it has always been a confused one. Imagine the vice president of a country contradicting what the governor of the central bank has to say as if they don't operate under the same policy.
I am sure they are just looking for an opportunity to milk the situation dry like they always do.
Not behind them tbh. They're full of shit
In the long run they will have to accept that cryptocurrencies are here to stay and they will end up eliminating Fiat.
Perhaps the possession of these governments that do not affect these means of payment is because they want to find a way to make a profit because they know that people are joining the use of them day by day.. And it is obvious that they are going to lose a lot of capital with all the businesses that they currently have in the banks. This is the only logical reason I can find for them to refuse to accept and adopt these technologies.
But since the pressure they have on a global level is too great, I am sure that they will end up adopting them and having to accept all this.
Wyoming? Hadn't heard about this. It's interesting that the state with the smallest population, has the foresight to make such big plans. The business environment may be why many business people and celebrities such as Kayne West have homes there.
I've never been further west than Chicago and know that is a beautiful state, with high mountains and plenty of wilderness. Who knows? maybe you'll get to climb The Grand Teton at 13,700 ft!
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The leaders can try to slow adoption down, but crypto is here to stay. If they're smart, they'll get out in front of it before they're extinguished like the dinosaurs that they are...
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