In today’s edition of Bitcoin in Brief, we cover the return of Coinbase to Wyoming, the expansion of Robinhood Crypto to Iowa and Georgia, a lawsuit against an exchange for failing to give a user his BCH plus a cybersecurity research that finds cryptocurrency exchanges experienced a massive surge of user data leaks.
Coinbase has announced that its money transmitter license has been renewed in the state of Wyoming.
Wyoming passed a number of laws meant to make the state more attractive to Bitcoin business this year, including exempting cryptocurrencies from property taxation.
Mike Lempres, Chief Legal & Compliance Officer, stated: “Regulators and legislators can work together to foster innovation by either licensing cryptocurrency money transmissions or exempting cryptocurrency from money transmission laws. The leadership and partnership between the state legislature and Governor Matt Meade allowed for this new legislation to be signed into law, under which cryptocurrency companies in Wyoming are no longer required to double reserve the assets of state residents. Now Coinbase and other compliant, regulated cryptocurrency companies can serve Wyoming customers in the same way we serve customers from nearly every other state.”
Robinhood Financial, the Palo Alto-headquartered US stocks brokerage app, has added another two locations where cryptocurrency trading is now supported for its clients.
Group-IB, a Moscow-based cybersecurity firm, has issued a report about user data leaks from cryptocurrency exchanges.
The researchers found that cybercriminals employ sophisticated malicious software and even modified tools previously used for attacks on banks to hack cryptocurrency exchanges and gain access to users’ personal data.