DNB fines Coinbase for ‘severe’ non-compliance
Crypto exchange fined €3.3 million for operating without registration
The Netherlands Bank (DNB) has fined another crypto exchange, Coinbase, €3.3 million ($3.6 million) for providing digital asset services in the country without registering with the central bank.
Since May 21, 2020, crypto firms have had to register with DNB under the Anti-Money Laundering and Anti-Terrorist Financing Act.
DNB said Coinbase’s non-compliance is “very severe”, having operated outside of regulations for almost two years, from November 15, 2020 “until at least” August 24, 2022.
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