Coinbase Drops Support for Bitcoin & UTXO Coins

San Francisco-based cryptocurrency exchange Coinbase will stop supporting native Bitcoin and UTXO coins on its merchant payment service, Coinbase Commerce. This decision is due to challenges integrating updates into its Ethereum Virtual Machine payment protocol for Bitcoin. Despite this, Bitcoin users can still use Coinbase Commerce if they have an account with the exchange. The company plans to integrate the Lightning Network to enable faster and more cost-effective transactions on the Bitcoin blockchain. While there may be short-term volatility, this move could contribute to the mainstream adoption of cryptocurrencies.