{"id":"63d1bf558ed8dc6d72e70f9a","cmsLocaleId":null,"lastPublished":"2024-06-07T20:47:26.750Z","lastUpdated":"2023-01-27T14:11:54.181Z","createdOn":"2023-01-25T23:46:29.590Z","isArchived":false,"isDraft":false,"fieldData":{"featured-recipe":true,"ingredients":"<p id=\"\">One of our infrastructure providers, Prime Trust, has withdrawn its Money Transmitter License from the state of Texas. While they intend to swiftly reapply and restore business in Texas, until that happens, they will not be able to service our members in Texas. This will result in the suspension of some Coinbits services for Texas residents on January 31<sup id=\"\">st</sup>. </p><h2 id=\"\"><strong id=\"\">Are my funds put at risk?</strong></h2><p id=\"\"><strong id=\"\">No.</strong> The bitcoin and U.S. dollars in your account will continue to be available for withdrawal on and after January 31st, regardless of the license renewal.</p><p id=\"\">Nevertheless, we encourage you to take custody of your funds. <a href=\"https://coinbits.app/blog/how-to-take-custody-of-your-bitcoin\" id=\"\">We offer resources and guides</a> for withdrawing funds from Coinbits.</p><h2 id=\"\"><strong id=\"\">I’m a Texas resident. Do I need to do anything?</strong></h2><p id=\"\"><strong id=\"\">Yes.</strong> Although you do not yet need to close your account., we suggest that you begin to transfer your funds off our platform into self custody (see above) or another solution at your convenience. Features such as Round Ups and Saving Habits will be paused. You will continue to be able to use Cash Out and Send Bitcoin. </p><h2 id=\"\"><strong id=\"\">I was a Texas resident when I opened my Coinbits account, but I have since moved out of state. Do I need to do anything?</strong></h2><p id=\"\"><strong id=\"\">Yes.</strong> <a href=\"https://form.typeform.com/to/PHjY9ato\" id=\"\">Visit this website and update your address</a> to avoid disruptions to your account.</p><h2 id=\"\"><strong id=\"\">Will Coinbits serve Texas in the future?</strong></h2><p id=\"\"><strong id=\"\">Yes!</strong> Texas is one of the most forward-thinking and dynamic regions in the world. We are finding a solution that will serve Texas and other jurisdictions. Stay tuned and thank you for your patience.<br></p><h2 id=\"\"><strong id=\"\">Will residents of other states be affected?</strong></h2><p id=\"\">We have no reason to believe residents of other states will be affected. However, as we build Coinbits, we are making it resilient to these kinds of issues in the future.<br></p><p id=\"\">We apologize for any inconvenience this may cause, and appreciate your patience and understanding during this process. If you have any questions or concerns, please do not hesitate to contact us at <a href=\"mailto:[email protected]\" id=\"\">[email protected]</a></p>","name":"Suspension of Coinbits services in Texas","slug":"suspension-of-coinbits-services-in-texas","excerpt":"Coinbits is suspending some services in Texas.","layouts":"be6b10efe6901af1e961a83d3ce9750e","selected-date":"2023-01-26T23:47:00.000Z","tags-2":["62cf049dccf2cc39dde0778d"],"main-image":{"fileId":"63d3150e11cb4280a86d9f56","url":"https://uploads-ssl.webflow.com/62388b098fb64da19337d832/63d3150e11cb4280a86d9f56_il_794xN.1845471113_jgsk.jpg","alt":null},"thumbnail-image":{"fileId":"63d3150e11cb4280a86d9f56","url":"https://uploads-ssl.webflow.com/62388b098fb64da19337d832/63d3150e11cb4280a86d9f56_il_794xN.1845471113_jgsk.jpg","alt":null},"author-v2":"62cf049dccf2cc0ea9e0778e"}}