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4 Responses

  1. Buck B says:

    Great article! I too live in Texas and it is such a bummer that we can’t send stablecoins to Celsius to earn higher interests. Any idea why that is and do you have any other suggestions on legal work arounds? Thanks for all the great information.

    • Larry says:

      Hi Buck. My assumption is that different companies attack the state licensing agreements and credentialing in a particular order. That’s why Texas residents like is can buy through Coinbase but not through BlockFi. There’s also limitations on trading stablecoins for those same reasons. We’re not alone – here’s a list of all the states in the same boat.

      For legal workarounds, I still just buy through Coinbase and transfer to BlockFi – both in a personal account and one that we’ve set up for our business. The funds are sometimes held at Coinbase for a few days (ostensibly to fight money laundering) and there are some small fees (ETH gas, I assume) for the transfer – but usually just pennies.

      Best of luck!
      Larry

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