Coinbase Returns to Hawaii After 7 Years as State Eases Crypto Regulations

Coinbase, the largest publicly traded crypto exchange in the US, has reestablished its presence in Hawaii after a seven-year hiatus.

This return is due to recent changes in state regulations that have simplified operations for crypto companies.

The state’s updated rules removed the Money Transmitter License (MTL) requirement, which previously presented a significant obstacle.

The regulatory change is part of the Digital Currency Innovation Lab (DCIL) project, launched in 2020 to explore the potential of digital currencies in Hawaii. The goal of these changes is to foster a more conducive environment for digital asset businesses.

Coinbase’s return follows Robinhood’s expansion into Hawaii in July, which also increased local access to digital financial services. Since Coinbase’s return, Hawaii residents can tap into a variety of services, including trading, streaming, and advanced trading tools.

The move has positively impacted Coinbase’s share price, signaling robust investor confidence.