On June 20, the cryptocurrency trading platform Kraken is moving its headquarters from San Francisco to Cheyenne, Wyoming. This move reflects Kraken's confidence in Wyoming's leadership in digital asset policy and builds on four years of collaboration with the state—including providing a $300,000 crypto education grant to the University of Wyoming and co-hosting the first Wyoming Blockchain Symposium in Jackson Hole.
Wyoming has become a hub for crypto companies due to its low tax environment, libertarian tradition, and bipartisan support for crypto legislation. Companies like Custodia Bank and blockchain startup NodeHaven have already established themselves in the state, taking advantage of regulations that define digital assets as property, protect private keys, and provide a regulatory sandbox for fintech experiments. Bitcoin mining giant CleanSpark also has facilities in the state.
Wyoming Senator Cynthia Lummis, a long-time advocate for digital asset policy, welcomed Kraken's decision.
