According to TechFlow, on August 1, Crowdfundinsider reported that the digital asset platform Blockchain.com, in partnership with Bakkt, now provides crypto trading services in all 50 states in the United States. Bakkt is a regulated digital asset exchange that provides infrastructure services such as custody. Previously, Blockchain.com was unable to provide services in eight states due to regulatory barriers. The company's president, Lane Kassleman, said the move enabled it to enter important markets such as New York, Virginia and Texas.
The newly added service states also include New Jersey, Louisiana, Hawaii, Tennessee and Nevada. Crypto trading in the United States is regulated at the state level, and Congress and the Securities and Exchange Commission have not yet provided a clear regulatory path at the federal level. Although Congress has tried to pass new legislation, the SEC has been hostile to cryptocurrencies. Bakkt CEO Andy Main called the collaboration an "exciting next step" and said they will work together to capture the growing market.
Since its founding in 2011, Blockchain.com has added over 90 million wallets and 40 million verified users, facilitating over $1 trillion in crypto transactions.