Coinbase announced that a notable new feature now accessible to residents of Hawaii is the ability to stake.
Stay in the know on crypto by frequently visiting Crypto News Today
In light of recent changes in state regulations, Coinbase Hawaii has resumed operations, enabling local residents to buy, sell, and manage a range of cryptocurrencies through its platform.
CryptoCaster Quick Check:
The state’s forward-thinking approach to cryptocurrency regulations, especially the decision made on June 28 to eliminate the money transmitter (MT) license requirement for crypto companies, has facilitated this advancement.
Although the MT license is no longer necessary, it is crucial for all companies to continue complying with federal regulations.
Coinbase’s pathway to Hawaii
In 2017, Coinbase halted its operations in Hawaii due to a mandate from the Hawaii Department of Commerce and Consumer Affairs Division of Financial Institutions (DFI), which required licensing for companies providing certain virtual currency services to residents of the state.
Following this regulatory requirement, Coinbase announced the indefinite suspension of its services in Hawaii.
Faryar Shirzad, the chief policy officer at Coinbase, praised the Hawaii DFI for its regulatory stance on cryptocurrency. He reiterated the company’s dedication to adhering to compliance standards, both within the United States and globally.
Shirzad emphasized the critical role of cryptocurrency in transforming financial systems, framing Coinbase’s re-entry as a significant move towards providing accessible, cost-effective, and efficient financial services.
Coinbase conveyed its excitement about broadening its services in Hawaii, pointing to regulatory clarity as a pivotal reason for its decision to return to the state.
Coinbase Returns to Hawaii with a Focus on Staking for Residents
Residents of Hawaii can now participate in cryptocurrency trading through the Coinbase platform. This application grants access to a wide array of digital currencies, allowing users to earn rewards, track market prices, and conduct international asset transfers seamlessly.
Coinbase provides users with the ability to automate their investments via recurring purchases, earn rewards through staking, and utilize a variety of analytical tools. The platform is also designed for active traders, featuring over 500 spot trading pairs with zero maker fees, advanced charting powered by TradingView, and APIs for tailored trading solutions.
A significant aspect of the Coinbase experience is its staking feature, which allows users to earn rewards by supporting the network operations of certain cryptocurrencies.
Through Coinbase’s staking option, users can achieve returns, with the possibility of earning up to a 12% annual percentage yield (APY) on select assets. Additionally, users can receive rewards of up to 5.20% by holding USD Coin (USDC), a stablecoin that is pegged to the U.S. dollar.
We hope you found this article insightful. Before you go, please consider supporting CryptoCaster’s independent journalism.
In the world of media owned by billionaires like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase), influence over narratives surrounding cryptocurrency and Web3 often reflects their interests. CryptoCaster is different. With no billionaire backers or shareholder obligations, we are committed solely to public interest journalism, covering crypto advancements and institutional changes without profit-driven motives.
Unlike much of mainstream media, which can fall into neutrality traps that obscure the real impacts on retail investors, we’re guided by transparency and integrity. We are unafraid to take a stand in the ongoing struggle against fiat banking dominance and in support of the monetary innovation driven by crypto and Web3. Reporting on issues like FTX, Binance, and Ripple, we bring a bold, unfiltered outsider’s view on global financial disruption—free from the constraints of traditional media narratives.
CryptoCaster remains paywall-free, accessible to everyone, thanks to the support of readers like you. Your contributions keep us independent and help ensure that critical information on the crypto landscape reaches all. If you value our work, please consider supporting us with a one-time contribution starting at just $1 in Bitcoin or Ether, or even monthly if you’re able. Scroll down to find our wallet addresses and help keep CryptoCaster independent and thriving.
Thank you for your support,
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
CRYPTOCASTER HEATMAP
