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.
W
e hope you enjoyed this article. Before you move on, we invite you to consider supporting CryptoCaster’s journalism.
Billionaire owners like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase) often have a strong influence on the hidden agendas surrounding the paradigm shift brought about by cryptocurrency and emerging Web3 technologies. CryptoCaster stands apart. We have no billionaire owner or shareholders to please. Our journalism is dedicated to serving the public interest in crypto development and institutional disruptions, not profit motives.
We avoid the pitfall of much U.S. and global media, which often resorts to false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency guide everything we do, we recognize that there is a right and wrong stance in the fight against fiat global banking interests and the monetary reconstruction driven by the emerging crypto ecology.
When we report on issues like the FTX, Binance, and Ripple crises, we’re not afraid to name names and uncover the truth. As a crypto sentinel, we offer a fresh, outsider perspective on global monetary disruption—something often missing from the insular American and European media bubble.
CryptoCaster’s paywall-free journalism is accessible worldwide thanks to our unique reader-supported model. This is made possible by readers like you. Your support keeps us independent, free from outside influence, and accessible to everyone, regardless of their ability to pay for news and information.
We are grateful for the ongoing monetary support from our readers. If you haven’t yet considered supporting CryptoCaster, please consider contributing just once from $1 or more in Bitcoin (satoshi) or Ether, or even better, support us monthly with a bit more. Scroll further down this page to find CryptoCaster’s wallet addresses.
Thank you.
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
SOL – DLvdMu85dW6pZMhw2E4S3pp81qQQGpy5UcdTsFEFBu4b
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt
CRYPTOCASTER HEATMAP
