Wyoming approves cryptocurrency banking charter

CHEYENNE, Wyo. (KIFI/KIDK)-Wyoming became the first state in America to approve a banking charter for digital assets.

Governor Mark Gordon said the Wyoming Banking Division voted to approve Kraken’s application to create the world’s first Special Purpose Depository Institution (SPDI). 

I am proud that our state is leading the way and built the framework for this historic announcement. Thanks to  Ogden Driskill, Tyler Lindholm, Jared Olsen, Chris Rothfuss and Caitlin Long, as well as Albert Forkner of the Wyoming Banking Division, who all played a role in creating a solid and effective regulatory environment,” said Gordon. “Wyoming is taking its rightful place globally as a fintech leader."

Wyoming’s new charter will allow those using digital assets, like cryptocurrency, to access reliable financial services, protect consumers, and allow businesses a way to hold digital assets safely.

Kraken was established in 2011 as a bitcoin exchange.