How does Coinbase work?

Like stock trading apps you may already be familiar with, Coinbase shows you the current price and trends for cryptocurrencies, a look at your portfolio of holdings, and news stories about the industry. Here’s how to get started and how to buy and sell cryptocurrencies with Coinbase.

Is Coinbase a publicly traded company?

Coinbase Global, Inc., branded Coinbase, is an American publicly traded company that operates a cryptocurrency exchange platform. Coinbase is a distributed company; all employees operate via remote work. It is the largest cryptocurrency exchange in the United States by trading volume.

When did Coinbase get a BitLicense?

In January and then March 2017, Coinbase obtained the BitLicense and licensed to trade in Ethereum and Litecoin from the New York State Department of Financial Services (DFS). In November, Coinbase was ordered by the U.S. Internal Revenue Service to report any users who had at least US$20,000 in transactions in a year.

Why did Coinbase settle with the New York State Department of financial services?

On January 2, 2023, Coinbase entered into a settlement agreement with the New York State Department of Financial Services after the department claimed Coinbase failed to comply with the New York banking law and DFS regulations. Coinbase is set to pay a $50 million penalty.