Popular crypto exchange Coinbase has resumed providing service in Hawaii, after a 7-year absence from the state. Thanks to recent regulatory changes easing restrictions, residents can now buy, sell, and stake crypto with up to 12% APY on Coinbase.
Recent adjustments as part of the Hawaii Digital Currency Innovation Lab pilot program, have relaxed restrictions against cryptocurrency. These allow companies like Coinbase to establish a foothold in the state. Now, Hawaiians may use the Coinbase website and mobile app to buy, sell, and manage their cryptocurrency wallets.
For Coinbase, its entry into Hawaii expands its user base. It also highlights the state’s commitment to fostering innovation in the digital currency spaces. The exchange has battled with the SEC for some time now regarding the disclosure of documents related to the application of securities laws to digital assets.
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“For years, Hawaii residents have expressed a strong interest in crypto on Coinbase, the only publicly traded crypto exchange in the U.S., and we’re excited to deliver on that promise today,” a Coinbase statement reads. “From seamless trading features to secure asset protection, Coinbase provides the most trusted crypto products and services.”
“The launch in Hawaii fuels the excitement for the crypto industry’s continued growth, and we are pleased to bring the power of crypto to more people and places,” Faryar Shirzad, the Chief Policy Officer at Coinbase, adds. “This is just one step in our mission to increase economic freedom around the world.”