Ok so it’s Coinbase’s coins now. Yes there’s a plethora of issues that can happen here. Who is responsible if the coins are lost? And, more importantly, what if Coinbase has a boating accident? I guess you can get my point, it feels like either coinbase is becoming a state’s asset holder, or the state trusting them can lead to serious financial consequences.
Until there will be accidents on a bigger scale, things will stay that way.
Usually entities like that are shaken only by real problems arising by the time passing, hacks, losses, and so on.