Coinbase opts to unveil Stellar Lumens trade in the state of New York

Coinbase, a Major United States-based cryptocurrency exchange, has now made residents of New York access and trade Stellar’s Lumens (XLM).

On Sept. 25, the exchange’s official Twitter account made it clear that New York state residents can use either official website or mobile app of the service to receive, send, trade and store Stellar Lumens.

“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,” the company announced.

Stringent crypto regulation

Since BitLicense’s introduction in August 2015, the state of New York has been famous for formulating stringent cryptocurrency regulation.

As a result, the New York has experienced what is known as “BitExodus”, whereby numerous crypto companies have opted to leave and stop offering services within the state in reaction to the stiff license requirement.

Coinbase has recently admitted that it would commence the addition of support for Telegram’s Gram as well as other 16 additional digital assets but some places such as New York will wait as others trade on those assets.

“We will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations,” Coinbase said.


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