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Coinbase Is Authorized To Provide Services In The Netherlands

Coinbase exchange is registered and licensed to provide cryptocurrency services by the Central Bank of the Netherlands. This is a potential market but many exchanges are difficult to conquer.

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On September 22, cryptocurrency exchange Coinbase announced it had successfully registered with the De Nederlandsche Bank (DNB) as a cryptocurrency service provider.

Thereby, Coinbase is allowed to provide a full range of digital asset services to retail and institutional customers. Currently, the exchange has been serving customers in many countries and has branches in Ireland, the United Kingdom, and Germany.

Vice President of International and Business Development at Coinbase, Nana Murugesan commented that adoption in the Netherlands strengthens the exchange’s credibility and trust:

“Coinbase prides itself on being a compliance-led business. 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.”

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Two years ago, DNB gave the green light to domestic cryptocurrency service providers. However, platforms wishing to register must ensure compliance with the AMLD5 directive on anti-money laundering.

After that, VanEck listed the crypto ETP on the Dutch stock exchange. This shows that regulations in the Netherlands are not causing much trouble for the crypto sector. However, this market is not easily conquered.

The proof is that the DNB agency fined Binance $3 million for operating without a license. As a result, Coinbase has taken steps to prepare by requiring Dutch users to perform KYC before trading.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.