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Heads up: The CLARITY Act is not law. Statuses are rules-based estimates from public evidence, not legal or financial advice.

Crypto exchange safety checker

US licences, New York BitLicense, enforcement history and proof of reserves for 11 major exchanges and apps. Every fact links to its source.

Last checked Oct 19, 2026

At a glance

11 exchanges and apps, scored on public signals
11exchanges
Strong signals 3Moderate signals 4Weaker signals 2Significant concerns 2
  • Licences checkedFinCEN, state MTLs, NYDFS
  • Enforcement windowLast 5 years
  • Proof of reservesWithin 12 months scores best
  • Affiliate linksNone

Scores at a glance

Bands: 80+ Strong · 60–79 Moderate · 40–59 Weaker · under 40 Significant concerns. Not a solvency rating.

No affiliate links, no paid placements.

Scores come from fixed rules (below), not opinion. A high score is not a guarantee: exchanges can fail, and holding coins on any exchange carries custody risk. See our custody explainer.

Exchange scores
ExchangeScoreUS availabilityNY BitLicense / trustProof of reserves
CoinbaseUS-listed public company with NY BitLicense, CFTC-registered derivatives arms and a 2023 NYDFS settlement.81 Strong signalsAvailable in the USYesAudited filings (no PoR)
GeminiNY trust company, US-listed public company, CFTC-designated exchange; 2024 NYDFS and 2025 CFTC penalties.80 Strong signalsAvailable in the USYesAudited filings (no PoR)
Robinhood CryptoUS-listed parent, NY BitLicense, available nationwide; 2022 NYDFS penalty.80 Strong signalsAvailable in the USYesAudited filings (no PoR)
BitstampLong-running exchange with a NY BitLicense, now owned by a US-listed parent; small 2022 Idaho penalty.77 Moderate signalsUS: some states restrictedYesAudited filings (no PoR)
KrakenBroad US licensing (not NY), full CFTC derivatives stack, regular proof of reserves, 2023 SEC staking settlement.75 Moderate signalsUS: some states restrictedNoWithin 12 months
Crypto.comBroad US availability (not NY), CFTC derivatives licences; proof of reserves not updated since 2022.73 Moderate signalsUS: some states restrictedNoOlder than 12 months
UpholdFinCEN-registered with many state licences; self-published reserves; no federal action found.62 Moderate signalsUS: some states restrictedNoSelf-reported
OKXSeparate US entity with broad state licences; the global operator pleaded guilty in 2025.50 Weaker signalsUS: some states restrictedNoWithin 12 months
Binance.USUS entity separate from Binance.com. Patchy state availability; the SEC case was dismissed in 2025.42 Weaker signalsUS: some states restrictedNoNot found
BybitNot for US users. EU MiCA-authorised; suffered the largest crypto theft on record in 2025.38 Significant concernsNot available to US residentsNoWithin 12 months
Binance (global)Not for US users. 2023 guilty plea and $4.3B+ US resolution; no MiCA authorisation found.25 Significant concernsNot available to US residentsNoWithin 12 months

How the score works

Five components, 100 points in total:

Scoring rules in full

  1. US money-transmission licensing (25): FinCEN MSB registration (5) plus state money transmitter licence coverage: broad (20), partial or unverified (12), none (0).
  2. Higher-tier US oversight (20): NYDFS BitLicense or NY trust charter (10), a CFTC-registered affiliate (DCM/FCM/DCO) (5), an SEC-registered broker-dealer affiliate or an SEC-reporting parent (5).
  3. Reserves & financial transparency (20): audited financial statements filed with the SEC (10) plus proof of reserves: within 12 months (10), self-reported only (5), older than 12 months (3). Capped at 20.
  4. Enforcement record, last 5 years (25): starts at 25. Criminal guilty plea by the company −20, or by a related group company −10. Each regulatory penalty of $1M or more −5 (max −15). Dismissed or closed cases don't deduct, but we still show them.
  5. Security incidents, last 3 years (10): starts at 10. Theft of $100M or more −7. Disclosed customer-data breach −4.

Bands: 80+ Strong signals · 60–79 Moderate · 40–59 Weaker · under 40 Significant concerns. The score measures public regulatory and transparency signals, mostly from a US point of view. It is not a solvency rating, an audit, a guarantee your funds are safe, or a recommendation. Exchanges that don't serve the US score low on US licensing by design. Each input is linked to a dated source on the exchange's page; "not found" means we looked and couldn't verify it, not that it doesn't exist.

FinCEN MSB registration is a federal anti-money-laundering registration, not a licence or endorsement; FinCEN does not vet registrants. The registrant list also contains entities with names similar to well-known exchanges whose connection we could not confirm.

Exchange delisting tracker → · Custody explainer →

Not legal, financial or investment advice. The CLARITY Act is not law. Facts are from the linked sources as checked on Oct 19, 2026; please tell us if anything is out of date.