Isn’t Coinbase as safe as a bank?

[cryptoenthusiast]

Not exactly. Coinbase is regulated like a bank when it benefits the state (for example, it must report transactions to the IRS, flag suspicious activity, and meet anti-money-laundering checks).

[EmTeam]

Coinbase facing bank-level oversight without giving customers bank-like protections feels unbalanced.

[Nahid10]

Regulated when it benefits the state, but not when users need protection—that’s the core issue.