The difference is that a storage facility is holding property which belongs to its customers, while Coinbase merely owes its customers a service—there is no pro

The difference is that a storage facility is holding property which belongs to its customers, while Coinbase merely owes its customers a service—there is no property involved, as the assets are all virtual. Banks are somewhere in between; they owe their depositors property (cash) upon request, not merely a service, but unlike a storage facility until that withdrawal is made the money belongs to the bank (more-or-less like a loan). They are also subject to regulations specific to banks which place those withdrawal claims in a special category.