Millions of Dollars Penalty from the Netherlands to Coinbase, the Largest in the USA

The Dutch Central Bank (DNB) has imposed a retroactive fine on Coinbase, the largest US crypto exchange, for providing unauthorized crypto money services.

Dutch Central Bank January 26 before registering to offer cryptocurrency services in the country. illegally due to its activities coinbase‘to 3.6 million dollars announced the punishment.

coinbaseto operate in the Netherlands. in September of last year As a crypto service provider from the Dutch Central Bank licensed and succeeded The first global cryptocurrency exchange had happened.

DNB before Coinbase gets approval from the bank November 2020 with August 2022 between “incompatible” He said that the penalty in question covers the services provided between these dates. The bank also penalized, stating that Coinbase plans to always register in the Netherlands, including on the specified dates. 5% discount reported that it was implemented.

On the other hand, in the statement, while the penalty was given, Coinbase one of the biggest cryptocurrency companies and “To a significant number of customers in the Netherlands” was stated to have been taken into account.

To appeal Coinbase’s administrative fine until March 2 exists.

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