Coinbase is one of the most popular and trusted cryptocurrency exchanges in the world, with over 100 million users and a market capitalization of over $20 billion. Coinbase allows users to buy, sell, store, and trade over 200 different cryptocurrencies, including Bitcoin, Ethereum, Solana, Avalanche, Litecoin, and many others.
Coinbase also offers various features such as a user-friendly interface, a mobile app, staking rewards, and educational resources.
However, not all countries are supported by Coinbase due to regulatory restrictions and local laws. Some countries are completely banned from using Coinbase, while others have limited access to certain services or features.
In this article, we will explore which countries are supported by Coinbase and which are not, as well as the regulatory status of Coinbase in different jurisdictions. We will also answer some frequently asked questions about Coinbase’s availability in the US, UK, and Canada.
Coinbase Supported Countries
Currently, more than 100 countries support Coinbase worldwide, making it one of the market’s most widely accessible cryptocurrency exchanges today. Here are some of the supported countries where Coinbase operates:
North America: Canada, Dominican Republic, El Salvador, Mexico, Panama, and the United States are among the popular countries that support Coinbase.
Europe: United Kingdom, Andorra, Belgium, Croatia, Czech Republic, Denmark, France, Germany, Greece, Italy, Luxembourg, Malta, Monaco, Netherlands, Norway, Portugal, Romania, Spain, Sweden, and Switzerland, among other countries in Europe.
Asia: India, Japan, Maldives, Nepal, Pakistan, Philippines, Singapore, Sri Lanka, and other Asian countries.
South America: Argentina, Brazil, Chile, Bolivia, Colombia, Ecuador, Uruguay, Paraguay, Peru, and Venezuela.
Oceania: Australia and New Zealand.
Africa and Middle East:, Armenia, Angola, Azerbaijan, Benin, Bahrain, Botswana, Cameroon, Georgia, Kenya, Kuwait, Ghanam Jordan, Nigeria, Oman, South Africa, Togo, Turkey, Uganda, UAE, and Zambia.
Coinbase Banned countries
The countries that are banned from utilizing Coinbase are those that fall under the sanctions programs run by the U.S. Treasury and other governmental agencies. Among these are the OFAC nations of North Korea, Iran, Syria, Cuba, and Crimea. Customers trying to log in from these restricted areas will be unable to use Coinbase services.
Similarly, some of the countries where Coinbase operates, but with certain limitations, are:
China: Users in China can only access the Coinbase Wallet app, which allows them to store their own crypto and interact with DApps. They cannot use the Coinbase or Coinbase Pro platforms to buy, sell, or trade cryptocurrencies.
Indonesia: Coinbase users in Indonesia can only buy and sell cryptocurrencies using debit cards. They cannot use bank accounts or wire transfers as payment methods.
India: Users in India can only buy and sell cryptocurrencies using debit cards or UPI (Unified Payments Interface).
Nigeria: In Nigeria, users can only buy and sell cryptocurrencies using debit cards.
Vietnam: Coinbase users in Vietnam cannot use bank accounts or wire transfers as payment methods.
Is Coinbase Regulated?
Yes, Coinbase is regulated, but the exchange may be licensed as a money transmitter, an e-money issuer, a digital token provider, or a registered money services business, depending on the country.
Some examples of Coinbase’s regulatory status in different countries are:
- The United States has granted Coinbase a license to conduct money transfer business. Additionally, it is compliant with the USA Patriot Act, the Bank Secrecy Act, and other federal and state laws and is registered with FinCEN as a Money Services Business.
- In the United Kingdom, Coinbase is authorized by the Financial Conduct Authority (FCA) as an e-money institution and a crypto asset service provider. It is also registered with the UK Information Commissioner’s Office as a data controller.
- In Singapore, Coinbase has received in-principle approval from the Monetary Authority of Singapore to provide regulated digital token products and services. This means that Coinbase will be able to operate under the Payment Services Act once it fulfills certain conditions.
- In Australia, Coinbase is registered and enrolled with AUSTRAC and complies with its obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.
Is Coinbase available in the US?
Yes, Coinbase is available in the US and is one of the most popular and trusted cryptocurrency exchanges in the country. Coinbase has a strong presence in the US, where it was founded and is regulated by the US financial authorities.
Coinbase is licensed to engage in money transmission in most US jurisdictions and is registered as a Money Services Business with FinCEN. Coinbase also complies with the Bank Secrecy Act, the USA Patriot Act, and other federal and state laws that govern the cryptocurrency industry.
The Bank Secrecy Act: Coinbase has to comply with the Bank Secrecy Act, which obliges Coinbase to verify the identities of its customers, keep records of currency transactions for up to 5 years, and report certain transactions to the authorities.
The USA Patriot Act: Coinbase is also required to abide by the USA Patriot Act, which calls for the appointment of a compliance officer to make sure that all applicable laws are followed, the establishment of processes and controls to assure compliance, the conducting of training, and the periodic assessment of the compliance program.
Can I use Coinbase in the UK & Canada?
Yes, you can use Coinbase in both the UK and Canada. Coinbase is a global cryptocurrency exchange that offers its services to customers across the world, including the UK and Canada. This means that users in these countries can sign up and get verified easily to start buying, selling, or trading cryptocurrencies.
Coinbase supports various payment methods for UK and Canadian customers, such as debit cards, bank accounts, and wire transfers. However, there may be some fees and limits associated with each payment method, depending on your country and currency.
Every country where Coinbase operates has legal and regulatory restrictions that must be met. The Financial Conduct Authority has granted Coinbase permission to operate as an e-money institution and a service provider for crypto assets in the UK. In Canada, on the other hand, Coinbase is currently altering its customer onboarding procedures in order to comply with the regulatory standards that are applicable to all custodial cryptocurrency trading platforms.