Coinbase Secures Approval to Launch Regulated US Bitcoin Exchange
An earlier version of this article stated that Coinbase Exchange had received regulatory approval in California. The California Department of Business Oversight has since released a statement denying that Coinbase Exchange received licensure. Bitcoin services provider Coinbase is set to launch a US exchange on Monday - one reportedly already approved by regulators in 24 jurisdictions. Coinbase has until now acted largely as a brokerage for bitcoin users. By expanding into this new vertical the company will be able to "offer greater security for individuals and institutions to trade bitcoin....
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Coinbase, which announced earlier this week it had launched the first regulated Bitcoin exchange in several states and territories of America, including California and New York, seems to be lacking regulatory approval from both states, according to local regulators. Department of Business Oversight (DBO) commissioner Jan Lynn Owen, issued a "consumer alert" on Coinbase's licensing status in California, where she made clarifications on what she qualifies as "erroneous reports." The document reads: "Numerous press accounts about Coinbase’s Jan. 26 launch of Coinbase Exchange erroneously....
Coinbase started providing its cryptocurrency services in Italy a while ago, offering Coinbase card services in the country as of June 2019. The United States-based cryptocurrency exchange Coinbase continues aggressive European expansion by securing approval to offer crypto services in Italy.Coinbase announced on July 18 that it has obtained the Crypto Asset Service Provider approval from the Italian Anti Money Laundering regulator, Organismo Agenti e Mediatori (OAM).According to a post by Nana Murugesan, Coinbase’s vice president of international and business development, the approval....
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The California Department of Business Oversight (DBO) has released a statement denying that Coinbase's new exchange is licensed to operate in the state under existing money transmission laws. In a press release, the state's financial services and money transmitters regulator called unnamed press reports that have stated that Coinbase had received regulatory approval to operate its exchange in California mistaken. In its statement, the agency said it was seeking to "correct erroneous reports that Coinbase Exchange has received regulatory approval from the State". DBO Commissioner Jan Lynn....
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