Coinbase back in Wyo after renewing money transfer license
Tuesday, August 07, 2018
Coinbase is back in Wyoming after a four-year absence. The California-based crypto exchange and wallet provider left the state in mid-2014 because of stipulations in state law the required all exchanges to “double reserve” the digital assets of state residents with fiat currency.
According to an article in cointelegraph.com, the exchange chose to suspend services as soon as its operations as a cryptocurrency exchange were deemed by legislators to fall subject to certain conditions for licensure stipulated under the Wyoming Money Transmitters Act (specifically, Chapter 22 of Title 40 - Trade and Commerce, which was introduced in the Wyoming Statutes of 2011 and came into effect by 2014).