United States
Coinbase, Inc., the company which operates Coinbase and Coinbase Pro in the US, is licensed to engage in money transmission in most US jurisdictions. Most of Coinbase’s money transmission licenses cover US Dollar cash balances and transfers. In some states, money transmission licenses also cover cryptocurrency balances and transfers on the platform. In other states, no money transmission license is required to operate a cryptocurrency business.
Coinbase is also registered as a Money Services Business with FinCEN.
Coinbase is required to comply with many financial services and consumer protection laws, including:
The Bank Secrecy Act, which requires Coinbase to verify customer identities, maintain records of currency transactions for up to 5 years, and report certain transactions
The USA Patriot Act, which requires Coinbase to designate a compliance officer to ensure compliance with all applicable laws, create procedures and controls to ensure compliance, conduct training, and periodically review the compliance program
Most states’ money transmission laws and corresponding regulations
Outside of the United States
CB Payments Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN: 900635) for the issuing of electronic money.
