{"id":44436,"date":"2023-01-26T07:17:00","date_gmt":"2023-01-26T11:17:00","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=44436"},"modified":"2023-01-26T07:17:03","modified_gmt":"2023-01-26T11:17:03","slug":"dutch-central-bank-fines-coinbase-3-6m-for-lack-of-registration","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/dutch-central-bank-fines-coinbase-3-6m-for-lack-of-registration\/","title":{"rendered":"Dutch central bank fines Coinbase $3.6M for lack of registration"},"content":{"rendered":"\n
Dutch central bank<\/a> has charged US-based crypto exchange Coinbase 3.3 million euros ($3.6 million)as fines for the lack of registration and failure to follow local rules.<\/h5>\n\n\n\n
\"Dutch
Dutch central bank fines Coinbase $3.6M for lack of registration<\/figcaption><\/figure>\n\n\n\n

According to a Reuters article from January 26, the Dutch central bank, De Nederlandsche Bank (DNB), penalized cryptocurrency exchange Coinbase\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> 3.3 million euros ($3.6 million) for failing to follow local rules for financial service providers.<\/p>\n\n\n\n

Prior to starting operations in the Netherlands, the exchange apparently failed to get the required registration to provide services there. Coinbase's size as a business and the fact that it has a “substantial number of clients in the Netherlands,” according to the DNB, were taken into account.<\/p>\n\n\n\n

Authorities said that Coinbase violated regulations from November 2020 to August 2022.<\/p>\n\n\n\n

The DNB went after the cryptocurrency exchange KuCoin<\/a> in December 2022, claiming that it, too, was operating without a license and providing services in violation of the law.<\/p>\n\n\n\n

Similar accusations were made against Binance Holdings Limited in 2021, and as a result, the exchange was targeted and fined more than 3 million euros.<\/p>\n\n\n\n

Since the start of the year, Coinbase has made news for a variety of factors connected to its commercial activities.<\/p>\n\n\n\n

On January 10, it said that operational reorganization will result in a 20% reduction in staff. On this same day, the brother of the former manager of the cryptocurrency exchange received a 10-month jail term for insider trading, marking the first recorded instance of its sort in the sector.<\/p>\n\n\n\n

The following Monday, January 18, a week later, Coinbase made the announcement that it will cease operations in Japan<\/a> due to the lingering impacts of the bear market trading collapse.<\/p>\n\n\n\n

Despite fewer than ideal events from the exchange, it was claimed that Coinbase stock had increased by 69% from its all-time low at around the same time that it shut down operations in Japan.<\/p>\n\n\n\n

Additionally, since the beginning of 2023, Cathie Wood's ARK Investment has added $17.6 million in Coinbase shares.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dutch central bank has charged US-based crypto exchange Coinbase 3.3 million euros ($3.6 million)as fines for the lack of registration and failure to follow local rules. According to a Reuters article from January 26, the Dutch central bank, De Nederlandsche Bank (DNB), penalized cryptocurrency exchange Coinbase 3.3 million euros ($3.6 million) for failing to follow […]<\/p>\n","protected":false},"author":12,"featured_media":44444,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[150,1406,4469],"class_list":["post-44436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-coinbase","tag-crypto-exchange","tag-dutch-central-bank"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/01\/image-37.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/44436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=44436"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/44436\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/44444"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=44436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=44436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=44436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}