Coinbase Rolls Out Stellar Lumens (XLM) Trading in New York State
Stellar Lumens (XLM) trading will now be available to Coinbase users in New York state for the first time.
Major United States-based cryptocurrency exchange Coinbase that it made Stellar’s Lumens (XLM) trading available also to those users who reside in New York.
The exchange made the announcement in a tweet sent by its official Twitter account on Sept. 25. New York state residents can now trade, store, send and receive Stellar Lumens using both the service’s official website and mobile app.
The company announced:
“Stellar Lumens (XLM) is now available to Coinbase users who are New York residents. New Yorkers can now log in to buy, sell, convert, send, receive, or store XLM on Coinbase or using our iOS and Android apps.”
New York’s stringent crypto regulation
The state of New York is known for stringent cryptocurrency regulation after the introduction of the BitLicense in August 2015.
The license requirement has driven various crypto companies to leave the state and stop offering services to New York residents, which some referred to as “BitExodus.”
As Cointelegraph recently reported, Coinbase is considering adding support for Telegram’s Gram and 16 additional digital assets. That being said, the exchange admitted that the trading of those assets may not start everywhere at the same time — suggesting that places like New York may once again have to wait. Coinbase stated:
“We will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations.”