[NEW]: Dutch central bank fines cryptocurrency exchange Coinbase 3.3 milion euros

[JochemKuijpers]

Date

2023-01-256

Description

Coinbase was fined 3.3 million euros ($3.6 million) by the Dutch Central Bank (DNB), for failing to obtain the correct registration in the Netherlands before offering services. The exchange should have obtained a registration when it became mandatory in May 2020, but did so 22 months too late, which means a potentially large amount of illegal transactions during this time could not be monitored correctly. DNB says the fine is higher than the minimum fine due to the serious nature of the infraction and culpability.

Links

https://www.reuters.com/article/netherlands-coinbase-fine/dutch-central-bank-fines-cryptocurrency-exchange-coinbase-3-3-mln-euros-idUKA5N32P01H

https://nos.nl/artikel/2461283-miljoenenboete-van-dnb-voor-cryptobeurs-coinbase (Dutch)

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[molly]

Thanks! https://web3isgoinggreat.com/?id=coinbase-fined-3-6-million-by-dutch-central-bank