The Dutch central bank (DNB) has fined U.S.-based cryptocurrency exchange Coinbase €3.3 million (US$3.6 million) for failing to obtain the required registration before offering their services in the Netherlands.
See related article: Coinbase asks Japan customers to withdraw holdings as it halts operations
Fast facts
- The DNB said that Coinbase was not compliant with local rules from Nov. 15, 2020. The exchange successfully obtained the appropriate registration on Sept. 22, 2022.
- DNB said that “a large number of unusual transactions may have gone unnoticed by the investigative authorities” while the exchange wasn’t registered.
- Coinbase told crypto news outlet Decrypt that it disagreed with the DNB’s decision and it is considering an appeal. The exchange has until March 2 to do so.
- Crypto service providers in the Netherlands have been required to register as money transmitters under the country’s anti-money laundering rules since May 2020.
- Back in July, the DNB also fined the world’s largest exchange, Binance €3.3 million euros (US$3.6 million) for offering cryptocurrency-related services without the appropriate registration.
- Coinbase stock (COIN) price on the Nasdaq was up 2.16% to US$53.19 during pre-market trading on Thursday.
See related article: Coinbase mulls lawsuit against users who made millions from pricing error
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://forkast.news/headlines/coinbase-fined-us3-6-mln-dutch-central-bank/
- 2020
- 2022
- against
- and
- anti-money laundering
- appeal
- appropriate
- article
- Bank
- before
- binance
- central
- Central Bank
- Coin
- coinbase
- compliant
- considering
- country’s
- crypto
- Crypto News
- cryptocurrency
- Cryptocurrency Exchange
- Customers
- decision
- Decrypt
- DNB
- during
- Dutch
- Dutch Central Bank
- Dutch Central Bank (DNB)
- Euros
- exchange
- from
- Holdings
- HTTPS
- in
- investigative
- IT
- Japan
- July
- large
- largest
- Laundering
- lawsuit
- local
- made
- March
- million
- millions
- mln
- money
- Nasdaq
- Netherlands
- news
- number
- obtained
- offering
- plato
- Plato Data Intelligence
- PlatoData
- price
- pricing
- providers
- register
- registered
- Registration
- related
- required
- rules
- Said
- service
- service providers
- Services
- since
- So
- stock
- Successfully
- The
- the Netherlands
- their
- to
- Trading
- Transactions
- transmitters
- under
- unusual
- users
- while
- WHO
- withdraw
- without
- world’s
- zephyrnet
More from Forkast
Scarred by Terra-LUNA, South Korea moves ahead with digital asset reform
Source Node: 1595998
Time Stamp: Jul 27, 2022
Interpol issues red notice for Do Kwon, says South Korean prosecutor
Source Node: 1692018
Time Stamp: Sep 25, 2022
Gansu Province warns no crypto mining within national data centers
Source Node: 1683049
Time Stamp: Sep 23, 2022
Bitcoin, Ether end week in interest rate doldrums; Binance’s BNB token leads winners
Source Node: 2188741
Time Stamp: Jul 27, 2023
Coinbase is “doubling down” on Singapore following license
Source Node: 2311688
Time Stamp: Oct 6, 2023
Ethereum supply would have grown by 350,000 tokens under PoW
Source Node: 1723515
Time Stamp: Oct 14, 2022
Trust Wallet’s TWT up 7%, leads top 100 cryptos in gains
Source Node: 2335363
Time Stamp: Oct 18, 2023
Terra allegedly ramped up its numbers with insider trading: report
Source Node: 1598127
Time Stamp: Jul 28, 2022
Wormhole launches 617 mln token airdrop to boost decentralization
Source Node: 2507562
Time Stamp: Mar 7, 2024