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58 minutes ago, solid102 said:

Reading the hate coming from BTC maxis under that tweet makes me oh so more secure about my XRP bag

I never fully understood the tribalism. I mean, it's not political, so it must be finanical. That is, they have money invested in a coin. Can you imagine if everything was like that? Like, "I drive a Ford because the model T was the first real production car. Your Toyota shitcar is a scam."

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6 hours ago, bx549 said:

I never fully understood the tribalism. I mean, it's not political, so it must be finanical. That is, they have money invested in a coin. Can you imagine if everything was like that? Like, "I drive a Ford because the model T was the first real production car. Your Toyota shitcar is a scam."

Dude, you stream from Spotify? The original iPod is the only legit way to listen to music man. It can fit 1000 songs, and each mp3 only costs .99 cents to download! After you download you get to keep it forever! That's such a bargain man. Spotify is just a scam. 

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Did you know that Wyoming has passed numerous laws defining crypto? I think we all knew about the banking license thingy, but there's a lot going on there. 

THIS is a fascinating read in Forbes entitled "What Do Wyoming's 13 New Blockchain Laws Mean?"

It will give you all kinds of insights into what Ripple is up to with this move .... faAaAaAaAarrr broader than a state banking license. 

Very cool :-) 

 

 

 

Edited by RobertHarpool
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10 hours ago, RobertHarpool said:

It will give you all kinds of insights into what Ripple is up to with this move .... faAaAaAaAarrr broader than a state banking license. 

My first (totally uneducated pulling it out of my butt) speculation was that it's CYA (cover your ass) regarding the SEC lawsuit and trying to get ahead of any possible outcomes or settlement conditions, such as Ripple being unable to distribute XRP (or securities, deals, swaps, whatever) unless they have legal authority like a bank licence. But I think this is a long-shot. More likely I think it's tax related. 

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10 hours ago, RobertHarpool said:

THIS is a fascinating read in Forbes entitled "What Do Wyoming's 13 New Blockchain Laws Mean?"

That IS interesting! Nice one.

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Creates a fintech sandbox to provide regulatory relief to financial innovators from existing laws for up to 3 years. It’s broadly reciprocal with fintech sandboxes both in the US and globally

Hmmm!

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HOW ARE THE TAXES IN WYOMING?

Basically, there are none at the state level—in most cases! In the US, federal taxes are distinct from state taxes and federal taxes apply to every American—but Wyoming can (and does) offer what’s probably the friendliest state tax regime. Wyoming often comes up #1 on surveys of the best states for tax purposes. At the state level, Wyoming has no personal income tax, no corporate income tax, and almost none of the other “gotcha” taxes that frequently hit businesses domiciled in other US states

Wow.

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Third, it makes security interests in digital assets “possessory security interests,” which means Wyoming law applies as long as the assets are, under this law, “located in” Wyoming—and the law makes it very easy to “locate” the digital assets in Wyoming. Possessory security interests have priority over other types of security interests. (For this reason alone, I suspect most coin lending and prime brokerage businesses will want to domicile in Wyoming.) 

...

Wyoming’s money transmitter law exempts crypto-to-crypto transactions, effective as of last year. Many lawyers worry that Lightning Network transactions may run afoul of money transmitter laws. Well, not in Wyoming (#probably!—check with your lawyer!) At least three other states that I know of have either enacted, or are in process of enacting, Wyoming’s same money transmitter exemption for crypto-to-crypto transactions.

I mean wow. 

Edited by thinlyspread
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I believe that from Ripple to founding Ripple Markets WY LLC in Wyoming is a very smart move. CEO Brad Garlinghouse has stated time and again that they are unhappy with the apparent lack of regulatory clarity regarding crypto and blockchain in the US. In my opinion, Ripple will not move its headquarters to crypto-friendly Wyoming. Rather, I see Ripple outside of the US.

https://www.crypto-news-flash.com/facing-sec-lawsuit-ripple-made-smart-move-by-registering-in-wyoming-attorney-says/

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4 hours ago, thinlyspread said:

My first (totally uneducated pulling it out of my butt) speculation was that it's CYA (cover your ass) regarding the SEC lawsuit and trying to get ahead of any possible outcomes or settlement conditions, such as Ripple being unable to distribute XRP (or securities, deals, swaps, whatever) unless they have legal authority like a bank licence. But I think this is a long-shot. More likely I think it's tax related. 

After banking, my second take was a CYA ... 

But, as you saw from taking a deeper dive into the article, there are many things going on ... 

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