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Coinbase's New York Customers Can Now Trade 9 New Tokens

thecryptobasic.com 05 August 2022 09:52, UTC
Reading time: ~2 m

Coinbase’s customers in New York can now access new trading support available for a few tokens.

It’s a good day for Coinbase users as the crypto exchange announces a new provision that lets New York residents trade in a selected group of crypto assets. 

The asset management arm of the exchange sent out a tweet announcing the new development. 

According to the announcement, the new tokens available on the platform include GTC, MASK, UPI, XTZ, CTSI, RAI, IOTX, TRB, and WCFG. 

However, Coinbase aims to first make available the new offerings to its New York customers. The exchange may plan to expand the offering later this year. 

The Facility

According to its official website, Coinbase prides itself as being the easiest crypto platform to buy, trade, or sell crypto. In that case, New York residents who wish to deal with the new list of tokens can now buy, trade, or sell them on the platform. 

Coinbase is the largest crypto exchange by trade volume in the United States. It supports portfolio management, recurring purchases (daily, weekly, or monthly), vault protection with delayed withdrawals, and platform access via mobile apps on both iOS and Android devices.

The move comes moments after Coinbase issued a clarification that it doesn’t support trading of tokens deemed as securities. This came after the U.S. Securities and Exchange Commission (SEC) accused the exchange of doing so. 

However, the accusation may have been triggered by a former Coinbase employee who was caught engaging in insider trading. The SEC filed a case against the culprit, and the exchange distanced itself from his illegal actions.

How to Access The Trading

Expounding on the new development, Coinbase directed users who wished to deal with the listed tokens to update or refresh their apps to access the new facility. 

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