Most Well Known Business Bitcoin Exchange is Operating Without Proper Licenses
Currently, there are no penalties being exacted on Coinbase as they work out how to get the proper licensing, but that is not to say there won't be, which is why it is imperative to always have your business properly licensed.
"The best-funded company in the Bitcoin industry appears to be operating without the proper licenses in the world’s financial capital... Coinbase, a company based in San Francisco with funding from the New York Stock Exchange and other big investors, said this week that it had opened as the first regulated Bitcoin exchange in several states, including New York... But a spokesman for the top financial regulator in New York said the company did not have the licenses necessary to operate as a Bitcoin exchange in the state."
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