They’re all unregulated. Coinbase was included in their list. The word “unregulated” was a flourish added by cointelegraph as a distraction. > Of the 81 exchan

They’re all unregulated. Coinbase was included in their list. The word “unregulated” was a flourish added by cointelegraph as a distraction. > Of the 81 exchanges evaluated in the report, only 10 provide volume figures that are legitimate, according to Bitwise. Coinbase is regulated as a money transmitter, like Venmo. [edit] what I believe they meant was that 95% of all trading volume was fake and 100% of that came from the less reputable exchanges.