Wyoming becomes First State With a Special Purpose Depository Institution

Cryptocurrency images courtesy Wikipedia

Governor Gordon statement on approval of the first SPDI bank charter by the Wyoming Banking Division

CHEYENNE, Wyo. – Governor Gordon has issued the following statement after the Wyoming Banking Division voted today to approve Kraken’s application to create the world’s first Special Purpose Depository Institution (SPDI).

“Today Wyoming became the first U.S. state to approve a banking charter for digital assets. Wyoming’s new charter will allow those using digital assets, like cryptocurrency, to access reliable financial services, protect consumers, and allow businesses a way to hold digital assets safely.

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I am proud that our state is leading the way and built the framework for this historic announcement. Thanks to  Ogden Driskill, Tyler Lindholm, Jared Olsen, Chris Rothfuss and Caitlin Long, as well as Albert Forkner of the Wyoming Banking Division, who all played a role in creating a solid and effective regulatory environment. Wyoming is taking its rightful place globally as a fintech leader.”

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