Coinbase announced the resumption of the cryptocurrency trading service in the state of Wyoming. This announcement comes after three years in which the platform has ceased all operations in the "cowboy state" due to regulatory issues.
Coinbase renews its money transfer license in Wyoming
The largest cryptocurrency trading platform in the United States, Coinbase, has taken over the cryptocurrency operation in Wyoming. Recently it has renewed its money transmitter license, which allows customers to exchange encrypted on the platform. This renewal comes after three years of absence in the state.
In 2015, Coinbase suspended operations in Wyoming. This was due to the Wyoming Money Transmitter Act which required all trades to double the activities of state residents. Three years later, in 2018, a new law was passed, which eliminated the double reserve problem.
The San Francisco platform has worked with many people to make encryption operations in Wyoming operational again. David Miller, leader of the majority plans of the Wyoming House of Representatives, Senator Eli Bebout and Task Force Blockchain were instrumental forces. In addition, Governor Matt Meade and the state legislator helped to modify the act and to sign the new legislation in law. This new law offers Coinbase and other cryptographic companies the opportunity to fully serve their customers in Wyoming.
According to the Coinbase blog, the company stated:
We are encouraged by this positive transition for Wyoming's residents and businesses to once again enjoy the advanced innovation, the economic activity and the social benefits of this new technology. Our goal is to be the most reliable cryptocurrant brand in space and, in the context of this, we seek excellence in respect and support common sense policies that enable innovation. We will continue to work with legislators and regulators in the United States and around the world as we work to create an open financial system for the world.
Coinbase continues Push Expansion
Recently, Coinbase announced that it was considering adding some coins to its custody suite. In an announcement published on August 3, the platform pointed out that cryptographic resources were just for archiving. The new digital coins are 37 in total and include, among others, XRP, XLM, ADA, ZEC, BTG, EOS.
The San Francisco platform is further pushing as it recently launched the Woocommerce plugin, an e-payment app for web-based marketplaces. The platform stated that the new functionality would allow cryptograph payments globally. In a statement issued by the company, we said:
We have worked hard over the last few weeks and are happy to announce a WooCommerce plug-in and some other new features.
Woocommerce is very popular on e-commerce platforms and has a penetration of around 28%. The San Francisco company hopes that most Web sites will allow digital payments to expand its overall adoption.