- Coinbase now offers Hawaii residents access to cryptocurrency staking, trading, and asset management.
- Coinbase criticized the SEC’s proposal on DEXs, citing a lack of critical information and flawed assumptions.
- Coinbase’s expansion into Hawaii reflects its commitment to regulatory compliance and crypto adoption.
Coinbase, a centralized cryptocurrency exchange, has expanded its services to Hawaii, allowing residents to buy, sell, and manage digital assets. This development follows recent regulatory changes, marking a milestone in Coinbase’s mission to broaden its reach across the United States.
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Hawaii residents now have full access to Coinbase’s platform, which includes features such as staking, trading, and asset management. Besides, new users can easily sign up and start trading hundreds of cryptocurrencies. The platform offers advanced tools for more sophisticated traders, including over 500 spot pairs and APIs, enhancing their trading experience.
Coinbase emphasized its commitment to regulatory compliance, aiming to create a safe and responsible environment for crypto transactions within Hawaii. This move is expected to boost cryptocurrency adoption in the state, providing residents more options to participate in the digital asset market.
Moreover, Coinbase recently submitted its third comment letter to the U.S. Securities and Exchange Commission (SEC). The letter highlights flaws in the SEC’s cost-benefit analysis of a proposed rule affecting decentralized exchanges (DEXs). According to Coinbase, the SEC has not adequately assessed the rule’s impact on efficiency, competition, and capital formation.
Additionally, the letter pointed out that the SEC’s proposal lacks critical information on DEX operations and compliance costs. Consequently, Coinbase argued that the proposed benefits might not materialize, especially if DEXs are driven out of the U.S. market.
Paul Grewal, Coinbase’s chief legal officer and author of the letter, urged the SEC to withdraw the proposal and conduct more thorough research. He emphasized that the SEC has not fulfilled its statutory obligations, as it has failed to gather essential information on DEXs and has made unjustified assumptions.
Coinbase’s expansion into Hawaii and its active role in regulatory discussions demonstrate the company’s ongoing commitment to fostering a secure and compliant environment for cryptocurrency transactions across the United States.
