Coinbase has announced that it is now offering its services in Hawaii, allowing residents to buy, sell, and manage their digital assets following the recent changes in Hawaii’s regulations.
Before now, Hawaii used to have strict regulations that made it hard for crypto companies to do business there. According to Bloomberg report, one of the main challenges was the requirement for crypto exchanges to hold cash reserves equal to the value of digital assets held by customers.
This made it difficult for crypto firms to operate in the state. However, the DFI has recently relaxed these restrictions as part of the Hawaii Digital Currency Innovation Lab pilot program, which aims to promote the growth of digital currencies in the state. With the regulatory changes in place, Coinbase can now offer its services to Hawaiian residents.
We’ve worked diligently with local authorities to ensure we can enter the Hawaii market, and welcome their innovative, responsible approach, which aligns with our goal of providing a safe and compliant environment for all
Coinbase
Also Read: Coinbase CLO Seeks Court Help Over SEC’s Document Refusal