Tag: Coinbase

Singapore Grants Crypto License Exemptions to Ripple, Coinbase and Binance

Crypto Bit News Staff

While Singapore recently adopted specific cryptocurrency legislation — the Payment Services Act (PSA) — in January 2020, it turns out that some crypto firms like Ripple, Coinbase and Binance have been exempt from the law since the beginning of the year. The Monetary Authority of Singapore (MAS), the country’s central bank and major financial regulatory authority, exempted a number of major payment services from holding a financial license under the PSA. According to a statement released on March 24, the listed companies are allowed to continue to provide specific payment…

Coinbase Wallet Integrates Support for DeFi Lending Apps

Crypto Bit News Staff

Leading U.S.-based cryptocurrency exchange, Coinbase, has integrated support for decentralized finance (DeFi) protocols on its wallet app. Per a March 26 announcement, Coinbase Wallet will now allow users to earn interest on cryptocurrencies through the DeFi apps, Compound, and dYdX. While the DeFi apps were already available through Coinbase Wallet’s built-in decentralized application browser, the exchange asserts that the integration significantly increases the ease-of-use for users seeking to access DeFi protocols. The new feature will roll out for iOS this week, with Android support slated to follow in the near…

Coinbase Card Now Available on Android Phones Through Google Pay

Crypto Bit News Staff

Coinbase Card users owning supported Android phones can now avoid using the physical card. Through an integration with Google Pay announced on March 17, the card can be emulated by a mobile phone. The Coinbase Card connects a holder’s cryptocurrency balance on the exchange, which is then used for spending crypto via an instant conversion to fiat. The card can only be issued to residents of the European Union and European Economic Area, as well as the United Kingdom. Once issued, the card can be used anywhere Visa is supported.…

Coinbase Launches BTC Transaction Batching, Saving Users 50% on Fees

Crypto Bit News Staff

Major cryptocurrency exchange Coinbase recently unveiled a new feature on its platform designed to save users money on transactions fees. According to a blog post released by the exchange on March 13, Coinbase would immediately begin offering Bitcoin (BTC) transaction batching for its customers. The move taken by Coinbase, which “requires no action from customers”, will allow single on-chain transactions of cryptocurrencies to be bundled into one. The exchange predicts this will reduce the load on the BTC network and the resulting fees customers pay for sending money. Saving users…

Coinbase CEO Explains How Crypto Will Go from 50 Million to 5 Billion Users

Crypto Bit News Staff

Brian Armstrong, the CEO of major cryptocurrency exchange Coinbase, explained what developments he believes will drive the growth of cryptocurrency’s’ user base. In a series of tweets on March 4, Armstrong illustrated how the developments that resulted in the mass adoption of the internet are similar to the work that is currently being done on cryptocurrencies. While he admitted that it is not clear which blockchain “will help get crypto from ~50M users to 5B,” he predicted: “The chain that manages to ship some of these scalability, privacy, decentralized identity,…

Coinbase and Messari Employees Working Remotely due to Coronavirus

Crypto Bit News Staff

Just one week after releasing its plan for the coronavirus spread worldwide, Coinbase is recommending its employees prepare for the next phase, and they’re not the only ones. Coinbase CEO  Brian Armstrong sent out a Tweet to his 300K+ followers on Mar. 2 indicating the crypto firm would be directing certain employees to work from home. Within an hour, the founder of Messari, Ryan Selkis, posted a similar message stating the company would be “going remote first and will be scrapping most planned business travel for the next couple of…

Coinbase Registers as Second-Class Member with JVCEA

Crypto Bit News Staff

The Japan Virtual Currency Exchange Association (JVCEA) — the official self-regulatory organization for the crypto industry in Japan — announced on Mar. 2 that three additional companies have just registered as second-class members. Coinbase, Digital Asset Markets, and the Tokyo Hash have registered as reported by the JVCEA. Second-class members with the agency can be registered as crypto currency exchange companies, or businesses that are planning to apply.  Coinbase was reported to be licensed in Japan in 2019, but hasn’t really made any progress since last year. However, the crypto…

Coinbase Has Tested Clearview Facial Recognition Software

Crypto Bit News Staff

Coinbase, the U.S. cryptocurrency exchange boasting over 20 million views per month and over 30 million total accounts, has tested Clearview AI facial recognition technology according to a BuzzFeed News report. However, Coinbase has denied that the test involved customer data. The controversial software has been the subject of intense scrutiny since a New York Times article exposed the company’s database of over three billion images, scraped from “millions” of websites and social media platforms without the consent of the users or publishers. Clearview AI has been threatened with legal…

Coinbase Releases its Plan for the Coronavirus Spread

Crypto Bit News Staff

Every day there are new stories of travel disruptions and public gatherings in Asia being cancelled due to the threat of the COVID-19 virus, AKA the coronavirus. Cryptocurrency and traditional markets have also been affected, with Bitcoin dropping 3% in value due to the virus being detected in Italy. When it comes to crypto exchanges handling the spread of the virus, Coinbase is preparing for the worst case scenario.  According to a document shared publicly by CEO Brian Armstrong, Coinbase is preparing a four-tier escalation response to COVID-19. Each phase…

EOS Network Suffering From Degraded Performance, Says Coinbase

Crypto Bit News Staff

Major American cryptocurrency exchange Coinbase said that the EOS network is having some issues. On Feb. 20, Coinbase issued a status update stating, “EOS network has degraded performance. Sends and receives might be delayed.”  The exchange posted a tweet two days later, stating that the EOS network was still suffering from degraded performance and that hat external EOS sends have been temporarily disabled, but buys and sells of EOS within the cryptocurrency exchange were functioning normally. However, EOS block producer EOS Nation responded on Feb. 22 that, although there had…