is coinbase a financial institution

Coinbase, a cryptocurrency exchange platform, has been on the rise in recent years. As a financial institution, it has received significant media attention and raised concerns about its regulatory status. Coinbase has been called an "Initial Coin Offering (ICO) company" by some, but others have debunked that claim. While there are some questions about whether Coinbase should be regulated as a financial institution, the company has been granted a nonprospective, nondiscriminatory access license by the Office of the Comptroller of the Currency (OCC). The OCC's approval allows Coinbase to operate as a financial service provider, rather than a financial institution. As a result, the company's regulatory status remains uncertain.