Yes, Coinbase is a regulated company. Coinbase is one of the most well-known cryptocurrency exchanges in operation today.
The company is based in San Francisco, California and was founded in 2012 by Brian Armstrong and Fred Ehrsam. Coinbase allows users to buy and sell cryptocurrencies, as well as store them in a wallet on the site.
Coinbase is regulated by both the US Commodity Futures Trading Commission (CFTC) and the US Securities and Exchange Commission (SEC). In addition, Coinbase is a member of the Financial Industry Regulatory Authority (FINRA), which is a self-regulatory organization for the financial industry.
Coinbase is also registered with the Money Services Business (MSB) under the US Department of Treasury.
Coinbase has been incredibly successful since its launch, with millions of users worldwide. The company has also attracted major investment, with some of the biggest names in venture capital investing in Coinbase.
In 2018, Coinbase was valued at $8 billion.
Despite its success, Coinbase has faced some challenges in recent years. In 2017, the IRS demanded that Coinbase provide information on all US customers who had made transactions worth over $20,000 on the site.
This caused a lot of uproar among users who were concerned about their privacy being violated. However, Coinbase complied with the IRS request and provided the information requested.
More recently, in June 2018, the SEC announced that it was investigating whether or not cryptocurrencies such as Bitcoin should be classified as securities. This caused a lot of uncertainty among investors and resulted in a sharp decline in the value of Bitcoin and other cryptocurrencies.
However, it doesn’t seem like this investigation has had any impact on Coinbase’s operations so far.
Overall, Coinbase is a regulated company that has faced some challenges but remains one of the most popular cryptocurrency exchanges in operation today.