The department, which is currently working on a final version of its BitLicense regulation, is still in talks with Coinbase about its legal status in the state, but that no decisions have been finalized.
Coinbase has indicated that it believes it is operating in a “gray area” in New York and California due to the fact that both states have yet to decide on how to move forward with Bitcoin-specific regulation.
The statements follow a consumer alert from California’s money transmitter regulator, the Department of Business Oversight (DBO), to the people of California, in which it said that Coinbase is not licensed or registered to serve state consumers.
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