Cryptocurrency platform Coinbase announced the addition of new cryptocurrencies for users in New York after receiving a significant license from the local financial authority.
Coinbase License
Coinbase has received a license from the New York State Department of Financial Services, allowing the platform to operate as a regulated Virtual Currency Business. This achievement strengthens regulatory trust and increases Coinbase's influence in the region.
New Cryptocurrencies Listed
As a result of this milestone, Coinbase has added four new tokens for trade: Subsquid (SQD), Celestia (TIA), XYO (XYO), and Bittensor (TAO). These tokens are available for buying, selling, converting, and storing through the Coinbase mobile apps.
Market Challenges
Despite the new opportunities for users, the cryptocurrency market as a whole is facing difficulties, with negative price fluctuations affecting key cryptocurrencies. The newly listed tokens also experienced negative trends at the time of their launch.
Coinbase's decision to expand its cryptocurrency offerings in New York's challenging regulatory environment underscores the company's commitment to providing diverse trading opportunities, despite current market conditions.
