In the past few months, since we launched the OG Pirates NFT Collection on the XRPL, we had been receiving notifications to explain our business venture. Emails, and notifications became more prevalent when we launched Rotten Gary.
These questions and notifications were irrelevant since our venture is not based in the United States. Despite having a representative co-working space on California for other businesses we have, ⎖unflake operates from Mexico, our hometown.
Although we know and have several highly recognized colleagues from our country working on projects in Solana and Ethereum, most of them are independent entities and not “brands.” It seems that in our country, there aren’t many crypto startups on XRPL or in blockchain in general.
In reality, our country has very lenient financial laws, which do not pose significant issues even in terms of traditional finance. The existing infrastructure for regulations and seizures is very limited. Regulatory actors are pro-crypto, although there are still many gaps in the law regarding this matter. We are what could be considered a tax haven or a crypto haven.
Maybe that’s the reason why so many Americans are coming to live in Mexican towns. Our hometown is now full of North Americans, regardless of problems such as insecurity from the drug cartels or significant inequality. Big enterprises like Tesla are being established all around the country with this same idea of “freedom”.
From the beginning, we faced the difficult decision of where to register as a company. Despite being next to the economic powerhouse of the world, the current situation in the United States regarding cryptocurrencies is very challenging. Politically, it is a quite uncomfortable issue, and there is no certainty about how to proceed. However, in Mexico, the story is different. That’s why we decided to establish ourselves here, considering that through the internet, we could reach the whole world.
The United States and Mexico have very close institutional relations and we all know both are countries filled with corruption. When someone causes discomfort in any way, notifications are not sent through official channels and mechanisms, but rather through “unofficial” legal intimidation.
In the end, there was nothing to worry about. In Mexico, we have strong relationships and contacts in the business an political field, and no matter how much someone tried to scare us, they cannot do anything. Here, the law is based on freedom, and we are not nobodies. Things have been done in the right terms.
Having said all this, we regret not being able to talk about these issues in the past. In fact, our lawyers advised us not to discuss the matter until everything was clarified for us.
After a long period of explanations, meetings, and evidence, the authorities in our country, specifically the “SAT” and “CINIF” have given us their approval, green light, and support to continue working without any issues for the future.
We are infinitely grateful to the Governor of Querétaro, Mexico, Mauricio Kuri, for being a public servant who promotes crypto in our country. We also express our gratitude to CINIF and Prodecon for their support, endorsement, and advice on the matter.
After a few administratively heavy months for us, we have a clear path ahead.
We’re just starting
∎ɯɐǝɹʇsuıɐ₥ʞɔnɟ
