Interesting thread on Reddit if Coinbase does indeed have a license as a money transmitter in the State of California or not.
Today, a statement was released by the CA Financial Regulator citing that Coinbase does NOT have any license. The article can be read here on Coindesk.
The licensing page for Coinbase tells a different story:
Now the question is, who is telling the truth. As per California’s department of business oversight, you can see, they Coinbase is clearly not mentioned.