Version history

Coinbase revised its state-by-state money transmission licensing disclosures in its User Agreement. The updated terms add a new Indiana section stating that Coinbase holds a Money Transmitter license from the Indiana Department of Financial Institutions, but explicitly note that this license does not cover virtual currency transactions. The terms also modify the Nevada disclosure, changing the regulatory body reference from the Nevada Department of Business and Industry to the Nevada Financial Institutions Division, and replace the prior statement that Nevada does not license virtual currency services with new contact information for consumer assistance and complaint procedures.

Coinbase expanded the circumstances under which it can liquidate user assets to cover losses. Previously, the agreement authorized liquidation only if you failed to pay for securities purchased or failed to deliver securities sold through Coinbase Crypto Markets (CCM). The updated language adds a third trigger: if a transfer of securities into your CCM account fails or is reversed. This means Coinbase can now use your property to cover losses resulting from failed or reversed inbound transfers, in addition to your own payment or delivery failures.

Coinbase updated its terms to define and authorize 'Coinbase Supported Migrations,' a process by which Coinbase can automatically transfer your digital assets to a newer version when the underlying protocol undergoes an 'Asset Transformation' (e.g., a protocol upgrade from v1 to v2). The updated terms state that Coinbase may conduct these migrations at its sole discretion on your behalf, and you hereby instruct Coinbase to do so. Coinbase also added explicit language stating it shall not be liable for any loss resulting from your inability to transfer assets during a migration or from an Asset Transformation itself.

Coinbase replaced its Colorado money transmitter notice with a comprehensive California-specific disclosure section. The new language adds fee caps (maximum $10 for transactions under $200, maximum 6% for larger transactions), explains that virtual currency transactions may be irreversible and losses may not be recoverable, discloses that virtual currency is not legal tender and not FDIC-insured, and provides California residents with 14 days' prior notice of material fee or terms changes. The updated terms also direct California residents to the California Department of Financial Protection and Innovation for unresolved complaints.

Coinbase added a new section to its User Agreement governing third-party liquid staking tokens (Third-Party LSTs). The updated terms explain how users can wrap staked assets into these tokens and later unwrap them, clarify that Coinbase facilitates but does not control the underlying protocols, and establish that users bear the risks of validator penalties, protocol failures, and price volatility. The terms also state that Coinbase does not guarantee the value, security, or successful redemption of Third-Party LSTs.

Coinbase added a new Direct Deposit feature to its User Agreement, effective March 9, 2026. The feature allows eligible users to deposit paychecks and government benefits directly into their Coinbase Account using virtual account and routing numbers provided by Coinbase. Users can elect to convert some or all direct deposit funds into digital assets, subject to transfer limits set at Coinbase's sole discretion, with no setup or maintenance fees and waived trading fees on conversions, though spreads may apply.