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Markets: 108940
Market Cap: $3,811,914,659,354     
24h Vol: $95,467,003,561
Seeking Alpha 2023-01-26 13:01:13

Coinbase fined €3.3M by Dutch central bank over failure to register

Coinbase fined €3.3M by Dutch central bank over failure to register
The central bank of the Netherlands, De Nederlandsche Bank (DNB), fined Coinbase ( NASDAQ: COIN ) Europe €3.33M for providing cryptocurrency services without registering with the DNB as required, the central bank said Thursday. Under Dutch law, the base amount of the fine is €2M with a maximum of €4M. The DNB said it increased the fine from the base due to Coinbase's ( COIN ) position as one of the largest crypto services providers globally. The central bank also alleges that the company's non-compliance "persisted over a prolonged period of time: from 15 November 2020 until at least 24 August 2022." Coinbase ( COIN ) has until March 2, 2023 to object to the fine, the DNB said. The company didn't immediately respond to a request for comment from Seeking Alpha. Last year, the DNB also imposed a similar fine on Binance for providing crypto services in the country without registering.
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