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.
Coinbase CEO Brian Armstrong has spotlighted a significant acceleration in institutional crypto adoption, driven largely by the surging popularity of exchange-traded funds and increased use of Coinbase Prime among major corporations.
The latest market turbulence, fueled by geopolitical tensions and investor fear, offered a textbook case of how sentiment swings and whale behavior shape crypto price action.
Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.
Anchorage Digital, a federally chartered crypto custody bank, is urging its institutional clients to move away from major stablecoins like USDC, Agora USD (AUSD), and Usual USD (USD0), recommending instead a shift to the Global Dollar (USDG) — a stablecoin issued by Paxos and backed by a consortium that includes Anchorage itself.