This was coinbase's response.
Coinbase Support <
help@coinbase.com>
Feb 22, 2019, 6:40 PM (6 hours ago)
to me
Hi Benjamin,
Thank you for reaching out about this, I recommend reaching out a fiduciary or legal advisor. Coinbase complies with all applicable laws and regulations in each jurisdiction in which it operates.
United States Coinbase, Inc., the company which operates Coinbase and GDAX in the U.S., is licensed to engage in money transmission in most U.S. jurisdictions. Most of Coinbase’s money transmission licenses cover US Dollar Wallets and transfers. In some states, money transmission licenses also cover digital currency wallets and transfers on the platform. In other states, no money transmission license is required to operate a digital currency business
Coinbase is also registered as a Money Services Business with FinCEN.
Coinbase is required to comply with a number of financial services and consumer protection laws, including:
The Bank Secrecy Act, which requires Coinbase to verify customer identities, maintain records of currency transactions for up to 5 years, and report certain transactions.
The USA Patriot Act, which requires Coinbase to designate a compliance officer to ensure compliance with all applicable laws, create procedures and controls to ensure compliance, conduct training, and periodically review the compliance program.
Most states’ money transmission laws and corresponding regulations.
International Currently, no license is required to operate a digital currency business in any other country where Coinbase operates.
Here is a link with more information about your user agreement:
https://www.coinbase.com/legal/user_agreementBest,
Riley
Coinbase Support.