Coinbase Reaches a Settlement with New York Regulators

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According to the New York Times, Coinbase, a publicly traded cryptocurrency trading exchange based in the United States, has reached a settlement with financial regulators in New York.

Questions:

  1. What is Coinbase accused of?
  2. When were the problems first detected with Coinbase?
  3. New York was one of the first states to require crypto firms to obtain licenses before seeking business from state customers. How many has the state issued?
  4. What are these licenses called?
  5. How has Coinbase recently sought to distinguish itself from FTX?

Source:

Goldstein, M. and E. Flitter. (2023). Coinbase Reaches $100 Million Settlement With New York Regulators. The New York Times, Jan. 4 (Retrievable online at https://www.nytimes.com/2023/01/04/business/coinbase-settlement-anti-money-laundering.html)