All is forgotten, we’ve passed the right laws, welcome back, Coinbase!
The cryptocurrency exchange has reopened offices in Wyoming after the Equality State passed several bills making it a friendlier place for the blockchain industry to do business.
Coinbase vacated its premises in 2015 after state regulators informed it that the state’s Money Transmitter Act required it to “double reserve” customer assets in the exchange’s custody by holding fiat currencies equal to the value of the crypto assets, according to CCN.
Coinbase vamoosed so quickly three years ago that “investors did not have time to withdraw either their fiat or cryptocurrency funds from the platform,” CCN said.
Well, now Coinbase is back, announcing in a blog post that it has renewed its state-level money transmitter license, enabling it to resume services in Wyoming. Read more here.