DBO Commissioner Owen Clarifies Coinbase Exchange’s Regulatory Status in CaliforniaJan 27, 2015 Download this press release (PDF) SACRAMENTO – Department of Business Oversight Commissioner Jan Lynn Owen today issued thefollowing statement to correct erroneous reports that Coinbase Exchange has received regulatory approvalfrom the State:“Numerous press accounts about Coinbase’s Jan. 26 launch of Coinbase Exchange erroneously reported theExchange has received regulatory approval from the State of California. The California Department ofBusiness Oversight has not decided whether to regulate virtual currency transactions, or the businesses thatarrange such transactions, under the state’s Money Transmission Act. California consumers should be awareCoinbase Exchange is not regulated or licensed by the State.”In the Jan. 26 announcement, Coinbase called the Exchange a platform for bitcoin trading. # # # Press Release ContactContact: Mark LeyesMark.Leyes@dbo.ca.gov News & Info Links Newsroom Press Releases Monthly Bulletins Important Notices Resources Archive Press Release Archive Press Releases 2018 Press Releases 2017 Press Releases 2016 Press Releases 2015 Press Releases 2014 Press Releases 2013 Press Releases 2009 - 2013 (Dept of Corporations) Press Releases 2001 - 2013 (Dept of Financial Institutions)
Download this press release (PDF) SACRAMENTO – Department of Business Oversight Commissioner Jan Lynn Owen today issued thefollowing statement to correct erroneous reports that Coinbase Exchange has received regulatory approvalfrom the State:“Numerous press accounts about Coinbase’s Jan. 26 launch of Coinbase Exchange erroneously reported theExchange has received regulatory approval from the State of California. The California Department ofBusiness Oversight has not decided whether to regulate virtual currency transactions, or the businesses thatarrange such transactions, under the state’s Money Transmission Act. California consumers should be awareCoinbase Exchange is not regulated or licensed by the State.”In the Jan. 26 announcement, Coinbase called the Exchange a platform for bitcoin trading. # # #