Coinbase Returns to Hawaii as Crypto Market Regulations Ease
CryptoNewsTerminal Staff13 Aug, 2024
Coinbase Returns to Hawaii as Crypto Market Regulations Ease
Coinbase, a leading cryptocurrency exchange, has re-established its services in Hawaii. This move follows recent changes implemented by the Hawaii Department of Commerce and Consumer Affairs’ Division of Financial Institutions (DFI), making the state more conducive for crypto businesses to operate. Coinbase previously withdrew from Hawaii in 2017 due to stringent regulations requiring a 1:1 cash reserve for bitcoin held within the state. However, the DFI's rule changes have addressed this concern, prompting Coinbase to re-enter the market. With Coinbase's return, Hawaii residents now have access to the exchange's comprehensive suite of services, including cryptocurrency trading, staking, and money transfer. This move signals a shift in Hawaii's regulatory landscape, recognizing the growing importance of digital assets and fostering innovation in the crypto sector.
