I’m curious about the policies regarding underage users on Coinbase. Specifically, is it permissible for a minor, with the explicit approval and oversight of their legal guardians, to set up an account on Coinbase? Furthermore, what are the compliance requirements and safeguards in place to ensure that such an arrangement adheres to both regulatory standards and the platform’s terms of service?
I believe Coinbase doesn’t allow minors, even with parental consent. It’s a legal thing.
Last I checked, Coinbase’s policy strictly prohibits anyone under 18 from registering, regardless of parental consent. They’re pretty stringent on KYC regulations.
To my knowledge, Coinbase adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) laws, which means they can’t legally onboard minors. Parental consent isn’t a factor here.
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While Coinbase does enforce age restrictions, there are other platforms that offer custodial accounts for minors. However, these require thorough identity verification for both the minor and the parent or guardian. Always check the terms of service and compliance measures for the specific platform you’re considering.
As a result, Coinbase does not allow minors to create accounts, even with the approval and oversight of their legal guardians. The platform’s terms of service are clear on this matter, and there are no compliance measures or safeguards that would allow for such an arrangement. This policy is in place to comply with the legal requirements and to maintain the integrity and security of the platform and its users.
In summary, while the idea of parental consent for minors to use financial platforms may seem reasonable, the legal and regulatory framework within which companies like Coinbase operate does not permit such flexibility. It’s always important for users to review the terms of service of any platform and to understand the legal requirements associated with financial transactions and account creation.
Minors can’t use Coinbase; it’s against KYC policy.
No, Coinbase’s TOS and AML laws prevent minor accounts.
Underage registration isn’t possible on Coinbase due to legal age restrictions.