Coinbase’s $3.6M Dutch Fine Shows Crypto Will Hit Road Bumps as It Goes Mainstream
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Loading... - Brugger Kim
- 09 Feb 2023
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Coinbase’s fine for “very serious” breaches of Dutch crypto registration procedures reveals some of the many pitfalls the industry faces as it works towards operating within the regulatory fold.
The charge sheet from the Dutch central bank (DNB) outlining its decision to impose a sanction of 3,325,000 euros ($3.6 million) for serving local customers without approval shows multiple legal and procedural gray areas – and Coinbase, which is registered with DNB now, argues it is being punished for co-operating.
The size of the fine matches the one imposed on rival crypto exchange Binance last year, and for similar reasons. The DNB argues it’s justified by the gravity and scale of the violation, though Coinbase can still appeal, and may yet do so. Read More…
