Coinbase crypto-exchange has been granted approval to provide its complete suite of institutional and retail cryptocurrency products and services in the Netherlands. “We have taken strides to work collaboratively with government, policymakers, and regulators to shape the future in a responsible way,” Coinbase said.
Dutch Regulator Approves Coinbase
The Nasdaq-listed cryptocurrency exchange Coinbase (Nasdaq: COIN) announced Thursday that it “has successfully registered with the Dutch central bank (De Nederlandsche Bank — DNB) as a crypto service provider.” The announcement details:
Coinbase can now offer all of its retail, institutional and ecosystem products in this country thanks to the registration.
“We are proud to be the first major global crypto exchange to receive DNB registration approval,” the company claimed, noting that Coinbase Europe Ltd. and Coinbase Custody International Ltd. are both listed in the DNB’s public register as a crypto service provider.
Nana Murugesan, vice president of Coinbase’s international and business development, commented:
To shape the future responsibly, we have made strides in collaboration with regulators and government policymakers.
“The Netherlands is a critical international market for crypto, and I am really excited for Coinbase to bring the potential of the crypto economy to the market here,” the executive opined.
Coinbase stated that its customers are located in almost 40 European countries via dedicated hubs in Ireland and the U.K. Additionally, the company seeks additional license applications or registrations in various major markets.
The Dutch central banking warned Binance that it illegally offered crypto exchange services to the country in August. “This may increase the risk of customers becoming involved in money laundering or terrorist financing,” the regulator cautioned at the time. In July, the DNB said it fined Binance Holdings $3.4 Million due to “very serious” violations. The cryptocurrency exchange applied to the DNB for permission to trade in the country, along with its central bank.
Let us know your thoughts about Coinbase’s approval to sell its entire suite of crypto services and products in the Netherlands. Comment below.
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