Bitcoin Exchange Coinbase Stops Services in Hawaii Due to “Untenable” Regulation
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....
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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 […]
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....
Two Hawaii politicians have submitted a bill calling for a dedicated Blockchain research group and “an educated and measured approach” to regulation. Blockchain to ‘Benefit Local Businesses and Residents’ in Hawaii. House Bill 1481, sponsored by democrats Chris Lee and Mark Nakashima, is currently awaiting approval by state legislators after submission January 25. State committee members considering it have already suggested it should be passed, subject to certain amendments which have yet to be made clear. The two advocates wish to expand the use of Blockchain technology in the state to....
Cryptocurrency exchange Bitfinex has asked its Ontario users to withdraw their funds since they will no longer have access to any services offered by Bitfinex in March.
Bitfinex Stops Providing Services to Ontario Customers
Crypto exchange Bitfinex announced Friday that it is making changes to the services it provides to Ontario customers.
Effective immediately, the firm said that “Ontario customers who do not have balances on the platform will have their accounts closed.”
In addition, those who do not have open positions in the....
Hawaii's Digital Currency Innovation Lab is accepting a second round of applications through Feb. 26.