Coinbase Crypto Exchange Now Supports USDC and Zcash for New York Traders
Coinbase, a leading US-based bitcoin exchange, announced that its New York customers can now buy, sell, convert and store Circle’s USDC stablecoin and Zcash (ZEC) focused altcoin on privacy, according to a tweet posted on February 10. 2020.
USDC, Zcash live on Coinbase New York
According to a tweet from the Coinbase team, residents of New York can now buy, sell, store, convert, send and receive zcash (ZEC) and USD Coin (USDC) on the exchange, through the official Coinbase website. com or on their Android and iOS Applications, with immediate effect.
the Tweeter Lily:
“USDC ($ USDC) is now available to New York residents on Coinbase.com and in the Coinbase iOS and Android apps. New York residents can log in to buy, sell, convert, send, receive, or store these assets.“
Notably, while USDC and Zcash have both been available to Coinbase users in other jurisdictions since late 2018, New York residents have not been able to enjoy the same privilege, possibly due to regulatory issues. .
Coinbase successfully secured the highly controversial New York BitLicense in January 2017, making it the first exchange in the region to take this milestone.
At the time, Coinbase legal team member Juan Suarez made it clear that operating in full compliance with state laws was of the utmost importance to the exchange.
“BitLicense, which allows Coinbase’s virtual currency trading operations to continue in New York State, is an important validation of our top priority: operating the world’s most secure and compliant digital currency exchange.“
Coinbase plays by the rules
Regarding compliance, Coinbase has added jurisdiction-by-jurisdiction altcoins support, to avoid exceeding its limits in states with more stringent crypto regulations.
In September 2019, Coinbase added support for Stellar Lumens (XLM) in New York City, and has pledged to continue listing more coins in a crypto-friendly jurisdiction over time.
It should be noted that Coinbase’s altcoin trading frenzy was recently criticized by Larry Cermak @lawmaster, who argued that the exchange’s support for VC-backed coins could result in a ‘retail dump’ of these. rooms.
Coinbase is exploring listing all of these assets. The vast majority of them are VC chains that will very likely crash in value immediately after being listed. Some VCs already wrote off these investments. Coinbase is basically considering facilitating a retail dump 👏🏻👏🏻👏🏻 pic.twitter.com/fVMqPMBUhP
— Larry Cermak (@lawmaster) September 19, 2019
In related news, Coinbase Custody has have joined forces with Web4 Foundation to provide digital asset custody services that will be powered by the Polkadot network.
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