The Dutch central bank (DNB) fined Coinbase $3.6M for failing to register before offering its services.

 

The Dutch central bank (DNB) fined Coinbase $3.6M for failing to register before offering its services.  

Since May 2020, the Netherlands has required all crypto companies to register under the anti-money laundering rules. 


  • The DNB said Coinbase registered to operate on Sept. 22, 2022, but offered its services without registering from November 2020 to August 2022. 
    • The central bank says considering the size and “significant number of customers in the Netherlands," the company should have abided by compliance measures. 
  • Coinbase does not agree to the decision and plans to appeal; the company has until March 2 to do so. 
    • In December 2022, the DNB accused KuCoin of operating illegally; in 2021, Binance paid 3M euros in fines.

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