Coinbase Announces Expansion to Hawaii

Crypto exchange Coinbase has announced that its services will now be available in Hawaii, allowing residents to purchase, sell, and manage their digital assets.

This move comes after a welcome change in regulations in Hawaii, which previously made it challenging for cryptocurrency companies to operate in the state.

According to a report by Bloomberg, the strict requirement for exchanges to hold reserves in cash equivalent to their customers’ digital assets was one of the major hurdles.

However, with the recent relaxed restrictions as part of the Hawaii Digital Currency Innovation Lab pilot program, Coinbase can now provide its services to the people of Hawaii.

This regulatory shift has been made in line with the state’s goal of fostering the growth of digital currencies.