Dutch Bank Fines Coinbase, Requires Over $3 Million
Sponsored
Sponsored
The Dutch Central Bank has thrown a $3.6 million penalty fee at Coinbase for allegedly failing to meet the region’s registration requirements prior to offering digital currency services in the Netherlands. Coinbase Hit with Huge Penalty Fee The bank says Coinbase has been operating on an unregistered basis since November of 2020. While the appropriate registration protocols were finally adhered to in September of 2022, the company went through a two-year period where it did not pay supervisory fees. The regulators are now looking to cash in on what they feel they’re owed. Any firm looking to provide crypto services
The authorities of Canada have granted Coinbase a registration as a “restricted dealer”, allowing the crypto exchange to operate in the country. Coinbase has started its efforts to expand in Canada since last year, despite continuing to deal with US regulatory authorities on similar issues. Let’s see all the details…