Thank you for using Coinbase. As part of our commitment to providing our customers with a safe, trusted and regulated environment in which to enter the cryptoeconomy, we are updating our Canadian operations. We have incorporated Coinbase Canada, Inc. to serve both new and existing Canadian customers more effectively, including localising our service and increasing our product offering.
This change means you will soon be receiving services from this local Canadian entity and we need to make an update to the User Agreement for Canadian customers. This update will be effective for you on 22 February 2023. This summary is intended to help you better understand our updated User Agreement. To see the full scope of updates that will govern your Coinbase account and use of the Coinbase services, please review the fully updated User Agreement.
Summary of the major changes and clarifications
Change to the details of the Coinbase companies which provide service to you, to reflect that you will now receive services from a new Canadian entity
The inclusion of risk warnings specific to Canadian law
Adding in specific references to applicable Canadian legislation
Reordering the User Agreement so that some of the terms (e.g. risk warnings and important defined terms) are more prominent
A new Section 4.10 confirming the treatment of local currency funds that you may deposit into your primary balance with Coinbase (once it is available)
A new Section 7.6 allowing us to make changes and updates to the User Agreement in the future
Change to the governing law of the User Agreement and the process for resolving any dispute relating to the User Agreement
Change to the description of how staking rewards may be offered (at Appendix 3)