According to a comparative law professor at the University of Rome Link Campus, namely Pierluigi Matera, Wyoming’s pro-crypto laws may one day snatch the US business incorporation dominance away from Delaware. In his recently published paper, Professor Matera states that the more crypto businesses Wyoming attract, the higher its chances to take Delaware’s title.
Due to the notable absence of US federal incorporation laws, the state of Delaware has made a name for itself as the center for business incorporation that possesses generous business governance laws. This is then supplemented by the latest statistics report of the state’s government. Over 67% of all Fortune 500 firms are integrated within the state, with an additional 1.5 million legal units wanting to be registered.
Meanwhile, Wyoming has constantly been passing blockchain-friendly bills in the effort of establishing itself as the go-to destination for any crypto businesses that aim to thrive and make significant waves in the recently-booming market. And it seemingly did just that – with the help of several enacted state legislator laws that promotes crypto and blockchain adoption, Wyoming is now considered by many as the state with the most pro-crypto laws.
With that in mind, Professor Matera argues that Wyoming’s blockchain approach goes way beyond even the tax or corporate law. It extends as far as the securities and banking regulations which are crucial to any startups that may choose to operate in the industry.
While he believes that the particular approach could already pose a threat to Delaware’s long-running dominance in the business incorporation field, Professor Matera says that Wyoming should still look into other specializations. And if they do so, it could only be a matter of time before Delaware surrenders its top place to its closest competition.