Regulations News

Coinbase is fined $3.6 million by the Dutch Central Bank

According to an official statement released earlier today by De Nederlandsche Bank, the Dutch Central Bank, Coinbase was imposed an administrative fine of €3.3 million ($3.6 million) as it provided crypto services without proper registration in the Netherlands.

The base amount for this kind of violation is €2 million, but it was increased by the fact that the exchange operated for almost 2 years without being registered with the Dutch regulators. Coinbase obtained its registration in September 2022, but provided its services to Dutch residents since November 2020. The DNB declared that the fine was reduced by 5% was implemented as Coinbase had always planned to obtain its registration.The U.S.-based exchange has until the beginning of March to object to the fine, but a spokesperson for Coinbase said they shouldn’t be impacted by the long delay it took to be registered.

Binance was slapped with the exact same fine back in July, but the exchange has yet to be registered in the Netherlands.

Stay ahead of the game with our Regulations News.
Boost your knowledge about Crypto with our Crypto Encyclopedia.


Greetings, I go by the name of Flavien - a devoted supporter of cryptocurrency and a tech aficionado who has been keeping track of the developments in the world of blockchain and digital currencies since 2019. The potential of decentralized digital currencies to revolutionize our financial systems has captivated me, and I'm constantly exploring the most recent trends and advancements in this ever-evolving industry. As a content creator for Krypto Channel, my aim is to deliver informative and engaging articles that shed light on all aspects of the crypto world. Whether you're a seasoned investor or simply curious about blockchain technology, I am here to keep you updated on the latest happenings and trends. Being part of this lively and dynamic community is an honor, and I am thrilled to share my passion for cryptocurrency and blockchain with all of you.
Back to top button