How does Coinbase work in New York?

3 answers

• Dec 17, 2021 · 3 years ago
  Coinbase operates in New York by following the regulations set forth by the New York State Department of Financial Services (NYDFS). This means that Coinbase is required to obtain a BitLicense to legally operate in the state. The BitLicense is a comprehensive regulatory framework that ensures consumer protection and anti-money laundering measures are in place. By complying with these regulations, Coinbase can provide its services to residents of New York, allowing them to buy, sell, and store cryptocurrencies with confidence.
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• Dec 17, 2021 · 3 years ago
  In New York, Coinbase is subject to strict regulations imposed by the NYDFS. These regulations aim to protect consumers and prevent illegal activities such as money laundering. Coinbase has obtained a BitLicense, which is a license specifically designed for cryptocurrency businesses operating in New York. This license ensures that Coinbase follows all the necessary compliance procedures and safeguards customer funds. As a result, users in New York can trust Coinbase to provide a secure and regulated platform for their cryptocurrency transactions.
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• Dec 17, 2021 · 3 years ago
  Coinbase works in New York by adhering to the regulations set by the NYDFS. The company has obtained a BitLicense, which allows them to legally operate in the state. This license ensures that Coinbase follows strict security measures and compliance procedures to protect user funds and prevent fraudulent activities. By operating within the regulatory framework, Coinbase provides a reliable and trustworthy platform for New York residents to buy, sell, and store cryptocurrencies.
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