According to Reuters, the Dutch central bank fined cryptocurrency exchange Coinbase €3.3 million for breaking national rules governing financial service providers. 26.
The exchange is alleged to have missed the deadline for registering so that it could provide services in the Netherlands. The size of Coinbase's business and the fact that it has a "significant number of customers in the Netherlands," according to the Dutch central bank, were factors taken into consideration. ".
Authorities claim that between November 2020 and August 2022, Coinbase violated the relevant regulations.
The Dutch central bank also pursued legal action against the cryptocurrency exchange KuCoin in December 2022 on the grounds that it was operating illegally and lacked the necessary authorization.
Binance Holdings Limited was also a target in 2021 and paid a €3 million fine for the infractions.
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