Bitcoin Exchange Coinbase Exits Hawaii Citing “Impractical” Legislation Changes
Bitcoin and Ethereum exchange and wallet provider Coinbase has announced it is quitting Hawaii after new legislation would make operating there “impractical.” The Aloha State, which previously signaled it wanted to construct “educated” Blockchain legislation, now requires operators to hold fiat reserves at least equal to the amount held as virtual currency. This stipulation runs in addition to businesses handling virtual currency to obtain a license. While Coinbase says it has “no objection to” this procedure, maintaining a “redundant” fiat reserve would be “impractical, costly and....
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Prominent Bitcoin and Ethereum exchange and wallet Coinbase announced that it is forced to stop supporting customers in Hawaii due to an “impractical” and “untenable” regulatory policy. Citing the reason for indefinitely suspending its business in Hawaii, Coinbase revealed: The Hawaii Division of Financial Institutions (DFI) has communicated regulatory policies which we believe will render continued Coinbase operations there impractical. Coinbase was first notified of the restrictive regulatory policy by the DFI in September, one that makes it “impossible” for the exchange to operate in....
Hawaii's Digital Currency Innovation Lab is accepting a second round of applications through Feb. 26.
Hawaii is giving crypto regulation a serious focus now. Around the world, the drive for crypto regulation continues to take shape as more governments seek to establish regulatory frameworks for digital assets. Hawaii could be the latest state to do so, as a senate committee has recommended the formation of a task group to regulate […]
The task force will submit findings and potential legislation back to the State Capitol — which involves providing a plan to expand blockchain adoption in both the private and public sectors. Two committees of the Hawaii State Legislature — Commerce and Consumer Protection (CPN) and Ways and Means (WAM) — unanimously approved the launch of a specialized task force to explore the use and regulation of the crypto ecosystem.In a letter addressed to the President of the Hawaii Senate, Ron Kouchi, legislative members Donovan Dela Cruz and Roz Baker wrote in support of creating a “Blockchain and....
Cryptocurrency exchange Coinbase has revealed its plan to expand in several European markets. The company is reportedly in the process of registering a crypto exchange in Spain, France, Italy, and the Netherlands.
Coinbase Expanding in Europe
Coinbase Global Inc. (Nasdaq: COIN) is reportedly planning to expand operations in Europe, Bloomberg reported Wednesday, citing an interview with Nana Murugesan, Coinbase’s vice president of International and Business Development.
Noting that Coinbase is focused on growing its presence in Europe, the executive revealed....