Kraken Moves Headquarters from San Francisco to Wyoming for Regulatory Support
Kraken has relocated its headquarters from San Francisco to Cheyenne, Wyoming, citing the state's favorable regulatory environment for digital assets. This move underscores Wyoming's growing influence in U.S. crypto regulation.
Key points include:
- Kraken was the first digital asset platform to obtain a Special Purpose Depository Institution (SPDI) charter in Wyoming in 2020.
- Wyoming has enacted over 30 crypto-specific laws to enhance its legal framework for blockchain firms.
- Notable companies in Wyoming’s crypto ecosystem include Custodia Bank and NodeHaven.
- Senator Cynthia Lummis supports Kraken's relocation as indicative of Wyoming’s progressive stance on digital assets.
- Kraken has invested in local education by awarding a $300,000 grant to the University of Wyoming for blockchain initiatives.
- The company aims to strengthen ties with local lawmakers while maintaining a remote-first operational model.
Additionally, while Kraken focuses on regulatory compliance, Bitcoin Hyper is attracting attention as a Layer-2 solution for Bitcoin, offering fast transactions and significant staking rewards of 524%.
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