PANews reported on August 14 that according to The Block, the cryptocurrency exchange Coinbase has begun to provide crypto services in Hawaii. Hawaii residents can buy, sell and manage their cryptocurrencies on Coinbase. In addition, they can use the exchange to pledge assets and make international fund transfers. Coinbase wrote in a press release: "We will officially enter Hawaii. This is a regulatory change made by the Hawaii Department of Commerce and the Department of Consumer Affairs Financial Institutions, which provides clear regulations for cryptocurrency companies."

Previously, Coinbase withdrew from the Hawaii market in 2017 due to the state's cryptocurrency regulatory policy requiring companies to hold a one-to-one cash reserve for Bitcoin holders. Juan Suarez, Coinbase's legal director at the time, said the policy made it "impossible" for the exchange to continue operating in the state.

Three years later, the Hawaii Department of Financial Institutions and the Hawaii Technology Development Corporation jointly launched a regulatory sandbox for cryptocurrency businesses called the Hawaii Digital Currency Innovation Lab. Twelve companies, including cryptocurrency exchange and custodian Gemini, can provide cryptocurrency services in the state for two years without first obtaining a state money transmitter license. Hawaii's Digital Currency Innovation Lab ended operations on June 30. According to a news release from the Hawaii government, cryptocurrency companies can still operate as unregulated businesses in the state, but must comply with federal licensing and regulatory requirements.