RATE Group | Coinbase Adds Support for 2 More Cryptocurrencies in New York State
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Coinbase Adds Support for 2 More Cryptocurrencies in New York State

11 Feb Coinbase Adds Support for 2 More Cryptocurrencies in New York State

Posted at 11:18h in Cryptocurrency News by

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After dropping zcash in its U.K. operation last year, Coinbase has now added the privacy enhancing cryptocurrency in New York state.

The San Francisco-based crypto exchange announced the news in a tweet on Monday, saying that the state’s residents can now buy, sell and exchange zcash (ZTC) on Coinbase.com, as well as in its iOS and Android apps.

Last August, Coinbase U.K. quietly dropped support for zcash, providing no reason in letters to its customers. However, the move came as British regulators were saying that exchange platforms may need to be able to provide personal data on transactors of cryptocurrencies.

Zcash allows users the option to conceal (or shield) details of their transactions using a type of zero-knowledge proof called zk-SNARKs. Coinbase had previously said when it added zcash in late 2018 that it would support both shielded and unshielded addresses, but would only allow unshielded withdrawals.

Also announced by the exchange for New York users on Monday was the…

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