Less random than paypal when it originally started. States had to come up with laws designed just for paypal, because an e-wallet was something completely new.

Less random than paypal when it originally started. States had to come up with laws designed just for paypal, because an e-wallet was something completely new. “We’re in uncharted territory, so hard to say if this stuff falls under a particular state’s MTL [money transmitting license] statutes,” says co-founder Fred Ehrsam. “We’re still talking to states to figure out how each responds, but Coinbase is prepared to get licensed where a regulator deems it’s necessary.” In the meantime, he is continuing to do business, relying on the fact that Coinbase has its AML and KYC processes established. [1] http://www.coindesk.com/coinbase-gmail-bitcoin/ http://www.coindesk.com/coinbase-gmail-bitcoin/ (Oct 28 2013)