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De Nederlandsche Bank, the Dutch central Bank, fined cryptocurrency exchange Coinbase 3.3 million euros for non-compliance with local regulations regarding Financial service companies.
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The exchange reportedly not taken the necessary registration steps for services to be offered in the Netherlands before launching an operation in this country.
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The DNB said it took into consideration the size of Coinbase as a company and the fact that it has a “significant number of customers in the Netherlands.”
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The authorities stated that Coinbase did not meet the requirements from November 2020 to August 2022.
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In December 2022, The DNB took on KuCoin, a cryptocurrency exchange.
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KuCoin declared that it, too, had no license, thus offering services that were not legal.
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