28 Feb '17, 9pm

Bitcoin Exchange Coinbase Stops Services in Hawaii Due to "Untenable" Regulation

Twitter Linkedin Facebook Reddit Weibo Prominent Bitcoin and Ethereum exchange and wallet Coinbase announced that it is forced to stop supporting customers in Hawaii due to an “impractical” and “untenable” regulatory policy. Citing the reason for indefinitely suspending its business in Hawaii, Coinbase revealed : The Hawaii Division of Financial Institutions (DFI) has communicated regulatory policies which we believe will render continued Coinbase operations there impractical. Coinbase was first notified of the restrictive regulatory policy by the DFI in September, one that makes it “impossible” for the exchange to operate in the state, according to a member of Coinbase’s legal team. Fundamentally, the regulation demands Coinbase or other digital currency operators to hold cash reserves equivalent to the value of the digital currency held for customers. Coinbase adds: This...

Full article: https://www.cryptocoinsnews.com/bitcoin-exchange-coinbase...

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