Tuesday, January 27, 2015
Posted by: Mike Rose
San Francisco-based Coinbase launched the first regulated bitcoin exchange in the U.S. on Monday, the company announced.
Coinbase Exchange's goal is to "bring increased stability to the bitcoin ecosystem," according to a company blog post. The exchange has regulatory approval in 24 states, including California and New York.
"A proper U.S. exchange that's trustworthy, that's insured, we were the first guys to get insurance on our bitcoin in some form, this will really help bring a dampening of volatility," Coinbase co-founder Fred Ehrsam told CNBC.
Bitcoin is a decentralized virtual currency that was introduced as open-source software in 2009. For more, see these FAQs on Bitcoin.org.