Cryptocurrency trading on Coinbase is now available in Hawaii.
Coinbase, the largest publicly traded cryptocurrency exchange in the United States, has officially launched its services in Hawaii. The move follows recent regulatory changes made by the Hawaii Department of Commerce and Consumer Affairs’ Division of Financial Institutions, which have clarified the situation for cryptocurrency businesses operating in the state.
In 2017, Coinbase left Hawaii due to new regulations requiring cryptocurrency companies to obtain a license and maintain fiat reserves or “permitted investments” equal to all cryptocurrencies held, a requirement unique to Hawaii. However, that requirement has since been lifted, and cryptocurrency companies no longer need a state money transmitter license to operate in Hawaii.
Hello, Coinbase!
Hawaii residents can now buy, sell, and manage cryptocurrencies through the Coinbase platform, gaining access to a wide range of digital assets and services, including recurring purchases, price tracking, and international asset transfers.
Coinbase also offers staking services, allowing users to earn up to 12% APY on select assets and up to 5.20% rewards for holding USDC.
Faryar Shirzad, Coinbase’s chief policy officer, highlighted the importance of the expansion, noting that it reflects the company’s commitment to compliance and providing secure, user-friendly crypto services in the United States and internationally.
“We have worked diligently with local authorities to ensure we can enter the Hawaii market and we applaud their innovative and responsible approach, which aligns with our goal of providing a safe and compliant environment for all,” Shirzad said.
Shirzad noted that the Hawaii launch marks an important milestone in Coinbase’s mission to increase economic freedom globally. Advanced tools are also available for experienced traders, including access to over 500 spot trading pairs with low fees, charts powered by TradingView, and powerful APIs.
This article has been updated to reflect that Coinbase previously operated in Hawaii until 2017.
