Bitcoin was and still is an enemy/ignorable-other-thing to many banks, who are incentivized not to care while also operating under an unclear regulatory environment.
Wyoming passed new laws to address that. There were home grown laws in a state that routinely updates its business laws to be attractive. Wyoming is like the western US version of Delaware, but better in my opinion.
Wyoming often passes laws for things other people are ignoring or don't respect yet because their business school didn't tell them to respect it yet.
Instead of SPDI attracting existing banks, an existing cryptocurrency exchange decided to become a bank.
This conveys full access to the US and international financial system: ACH, Fedwire, SWIFT.
Wyoming passed new laws to address that. There were home grown laws in a state that routinely updates its business laws to be attractive. Wyoming is like the western US version of Delaware, but better in my opinion.
Wyoming often passes laws for things other people are ignoring or don't respect yet because their business school didn't tell them to respect it yet.
Instead of SPDI attracting existing banks, an existing cryptocurrency exchange decided to become a bank.
This conveys full access to the US and international financial system: ACH, Fedwire, SWIFT.