Coinbase, Exchanges

Is Coinbase Banned in US?

The US government has not banned Coinbase, nor have any major US regulatory bodies. However, some state-level regulators have taken action against Coinbase.

NOTE: This is an important issue to consider before investing in Coinbase. While Coinbase is not currently banned in the United States, its legality may be subject to change. It is important to research the current laws and regulations surrounding cryptocurrencies in your state and country before investing in Coinbase or any other cryptocurrency services. Additionally, it is important to understand the level of risk associated with investing in cryptocurrencies.

In 2016, the New York State Department of Financial Services (DFS) fined Coinbase $75,000 for failing to obtain a BitLicense, which is required to operate a digital currency exchange in New York. In January 2018, the DFS issued a cease-and-desist order against Coinbase for operating an unlicensed money transmission business.

While the US government has not taken any formal action against Coinbase, it is important to note that some state-level regulators have taken steps to crack down on the popular digital currency exchange. It is possible that more regulation could be coming down the pipeline, so investors and users should keep an eye on developments in this area.

Previous ArticleNext Article