Overview
- Reports compiled by Odaily and picked up by Wu Blockchain on Tuesday said Coinbase updated its signup flow to accept Chinese national ID cards and mainland residential addresses for identity checks.
- The new pathway replaces prior requirements that pushed many mainland users to use passports and Hong Kong addresses, lowering the technical barrier to complete know-your-customer steps.
- Coverage differs on company confirmation because Wu Blockchain cited Coinbase staff acknowledging the change while other outlets noted Coinbase has not issued a clear public statement.
- News of the reported update caused Coinbase Global shares to rise more than 2 percent as investors saw potential for added users while the company faces leadership turnover and rising competition.
- China’s 2021 rules bar foreign platforms from offering crypto services to mainland residents, so this appears to be a backend onboarding change that could increase gray-market access but does not equal legal re-entry.