Following recent legislative changes in the state of Hawaii, crypto exchange Coinbase has announced the launch of its services in the region. Hawaii’s Department of Commerce and Consumer Affairs made regulatory adjustments providing clarity for crypto exchanges to operate in the state.
Coinbase Expands to Hawaii
The new policies allow Hawaii residents to buy and sell cryptocurrencies on the Coinbase platform. Additionally, the crypto exchange will offer local users services such as staking, asset management, and trading. Coinbase regards its operations in Hawaii as progress in its expansion across the United States.
Hawaii Opens Up to Crypto
Coinbase's expansion to Hawaii marks a significant event for the entire crypto industry, indicating greater state openness to the crypto space. Previously, state policy required crypto exchanges to have cash reserves equal to the value of the digital assets they held for customers, complicating their operations. However, this requirement was recently removed.
Coinbase's expansion to Hawaii signals significant progress in the state's attitude towards the crypto industry, creating favorable conditions for further development of crypto services in the region.
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