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    Tinubu signs Electricity Act of 2023; States to generate, transmit and distribute electricity

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    Headline Inflation in Nigeria rose to 22.04% in March

    Food prices continue to soar in Nigeria as inflation hits 25.80%

    NERC hikes electricity meter price by 40%

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    Student Loan Act: How to apply for the loan, all you need to know

    FG establishes ‘Infrastructure Support Fund (ISF) for the 36 States of the Federation’

    Headline Inflation in Nigeria rose to 22.04% in March

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    CBN extends Naira 4 Dollar Scheme for diaspora remittances until further notice

    CBN includes Naira as payout option for diaspora remittance

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Ripple is now registered as a Wyoming business

Monday, 22 February 2021, 12:52 am
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Ripple is now registered as a Wyoming business
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Blockchain based payment firm, Ripple Labs has now registered as a business in Wyoming citing better regulatory policies than is obtainable in San Francisco, California

Caitlin Long, who is the CEO of digital bank Avanti Bank & Trust and associated with the Wyoming state legislature’s Select Committee on Blockchain, Financial Technology and Digital Innovation, welcomed the news with a tweet stating that Wyoming laws are more crypto friendly:

WELCOME TO #Wyoming, @Ripple! More #crypto cos are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws. People often ask how many cos have relocated/redomiciled to Wyoming–we dunno. We don't keep lists & we like it that way #XRP @Mark_Gordon_WY? pic.twitter.com/zsUApz25Jy

— Caitlin Long ? (@CaitlinLong_) February 21, 2021

She said crypto firms like Ripple should consider relocating to Wyoming due to the state not having any corporate or franchise taxes, and cryptocurrencies being exempt from property and sales tax.

In addition, U.S. Senator Cynthia Lummis, a Wyoming lawmaker is one of the first to say digital assets will be a key part of her legislative agenda. Wyoming is becoming one of the most attractive U.S. states for crypto and blockchain firms. Last year, the Wyoming State Banking Board granted crypto exchange Kraken a charter to operate as a crypto-friendly bank and gave Avanti the green light to receive and custody crypto in a similar fashion. In the wake of Tesla’s $1.5 billion Bitcoin (BTC) purchase earlier this month, Senator Lummis invited CEO Elon Musk to consider relocating to the state.

Victor Nnadi

Victor Nnadi is an Independent Economics Researcher and a Securities Trader.

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