Coinbase obtains New York State license to conduct virtual currency business
Coinbase, the world's leading compliant cryptocurrency trading platform, has officially obtained a virtual currency business activity license from the New York State Department of Financial Services (NYDFS).
This new license enables residents of New York State to send and receive USDC (USD Coin) on the Base network through the Coinbase web platform and Coinbase iOS and Android applications.
The Base Network is an Ethereum Layer 2 extension solution launched by Coinbase, aimed at providing lower transaction costs, faster settlement speeds, and a more user-friendly development environment.
The opening of the USDC sending and receiving function this time means that New York State users can enjoy the convenience and efficiency of stablecoin cross chain transfers within a compliant framework.
Coinbase stated that this move is not only an important progress for the platform in the compliance field, but also will further promote the popularity of stablecoins in daily payments, cross-border settlements, and decentralized application (DApp) ecosystems.
Industry analysis believes that as the financial and regulatory center of the United States, New York State's attitude has important implications for the country's stablecoin policy and the application of cryptocurrency assets.
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