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RE: Kraken becomes a US Bank: WILL IT BRING an awaited MASS ADOPTION to the crypto industry?

in Project HOPE • 4 years ago

Interesting news, this is a first step that may lead to a broader adoption of crypto by the general public.

While what has been granted to Kraken is not a full-fledged national banking license or an industrial loan company charter, but a special-purpose depository institution license, this still represents a significant progress. Especially due to its ties to the state of Wyoming.

4 years ago in Project HOPE by
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     4 years ago 

    Thanks for dropping by and your comment @lbarbera

    this is a first step that may lead to a broader adoption of crypto by the general public.
    It surely is a step forward. Perhaps not a huge one, but step in right direction. Getting us closer to mass adoption.

    Especially due to its ties to the state of Wyoming.
    Is it important that Kraken is somehow tied to state of Wyoming?

    Have a great monday ahead of you buddy,
    Cheers, Piotr

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       4 years ago 

      Is it important that Kraken is somehow tied to state of Wyoming?

      It is, because Wyoming has made a big legal push to become a crypto-friendly state (much like Delaware is a corporate-friendly state, which is the reason why most big US companies are incorporated in Delaware).

      I have highlighted the important role of Wyoming in my brief commentary to these news, and you can read all the details there: https://steemit.com/hive-175254/@lbarbera/kraken-is-the-first-crypto-company-to-receive-a-bank-charter

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