California law governs this agreement, and any disputes not handled through arbitration must be brought in courts located in San Francisco County, California.
This analysis describes what Coinbase's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This clause establishes the legal framework and forum for dispute resolution. By designating California law and San Francisco County courts, the provision determines which substantive legal standards apply and which courts have authority to hear non-arbitrated disputes.
The updated terms establish a new arrangement for USDC designated as 'Secured USDC' in connection with the Coinbase One Card. Under the revised language, if you designate USDC in your wallet as Secured USDC, you agree that Coinbase may transfer that amount to a third party designated as the secured party, and you will be restricted from withdrawing or transferring those funds. Additionally, the secured party's instructions to Coinbase regarding those assets take priority over any conflicting instructions you provide. The agreement states that you consent to all such permitted transfers. This arrangement operates independently of amounts owed to Coinbase, meaning Secured USDC will not be debited to satisfy debts you owe to Coinbase.
View change record →The updated terms eliminate language that previously allowed Coinbase to restrict your withdrawals if you designated USDC as Secured USDC and to comply with third-party secured party instructions without your consent. Under the revised agreement, Coinbase will not transfer, loan, or otherwise handle your Supported Digital Assets except as required by law or as you instruct. This means the One Card Secured USDC mechanism is no longer integrated into the core asset protection clause, and users no longer face withdrawal restrictions or loss of instruction authority tied to that designation. If you currently hold Secured USDC under a separate One Card cardholder agreement, that agreement remains in effect but is no longer cross-referenced in the main User Agreement's asset protection section.
View change record →The updated terms establish a new exception to the prior prohibition on transferring user digital assets. Previously, Coinbase stated it would not transfer assets except as required by law or per user instruction. The revised language now permits Coinbase to transfer USDC designated as 'Secured USDC' to third parties pursuant to a Coinbase One Card cardholder agreement. Users who elect to use this feature agree they will be restricted from withdrawing or transferring the secured portion, and they consent to Coinbase following instructions from a designated secured party without further user approval, even if those instructions conflict with the user's own orders to Coinbase. The full terms of this arrangement are stated to be in Appendix 4, which is not included in this summary.
View change record →Users outside of California who have disputes that fall outside the arbitration clause must bring those disputes in San Francisco County courts, which may create practical barriers to pursuing claims due to geographic distance and associated costs.
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"This User Agreement and any claim, cause of action or dispute ('Claim') arising out of or related to this User Agreement or the Coinbase Services shall be governed by and construed in accordance with the laws of the State of California. Any Claim not subject to arbitration shall be subject to the exclusive jurisdiction of the state and federal courts located in San Francisco County, California.— Excerpt from Coinbase's Coinbase User Agreement
REGULATORY LANDSCAPE: Forum selection and choice of law provisions in consumer financial services agreements engage state consumer protection laws, which in some jurisdictions may limit the enforceability of forum selection clauses for resident consumers. California law as the governing law provides users with access to California's relatively robust consumer protection framework, including the CLRA and UCL, which may benefit California-resident users. GOVERNANCE EXPOSURE: Low. The California governing law and forum selection provisions are operationally standard for a company headquartered in California. Non-California users should assess whether the forum selection clause creates practical barriers to litigation, though the mandatory arbitration clause substantially limits the circumstances in which court litigation would occur. JURISDICTION FLAGS: Some states have consumer protection statutes that may limit the enforceability of forum selection clauses against resident consumers. The practical significance of this provision is reduced by the mandatory arbitration clause, which requires most disputes to proceed through AAA arbitration rather than court litigation. CONTRACT AND VENDOR IMPLICATIONS: Institutional counterparties outside California should assess whether the California forum selection clause is consistent with their litigation management policies and whether it creates any practical barriers to enforcing contractual rights against Coinbase. COMPLIANCE CONSIDERATIONS: Legal teams should note that California law governs interpretation of this agreement, which means California court decisions and regulatory interpretations of relevant consumer protection statutes will be relevant to assessing provision enforceability.
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This clause establishes the legal framework and forum for dispute resolution. By designating California law and San Francisco County courts, the provision determines which substantive legal standards apply and which courts have authority to hear non-arbitrated disputes.
Users outside of California who have disputes that fall outside the arbitration clause must bring those disputes in San Francisco County courts, which may create practical barriers to pursuing claims due to geographic distance and associated costs.
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