AMSTERDAM, Jan 26 (Reuters) – The Dutch central financial institution (DNB) has fined U.S. cryptocurrency alternate Coinbase (COIN.O) 3.3 million euros ($3.6 million) for failing to acquire the proper registration within the Netherlands earlier than providing companies.
The positive mirrors one handed to Coinbase rival Binance in July.
Coinbase mentioned it disagreed with the DNB’s resolution, which it mentioned “contains no criticism of our precise companies” and was contemplating an enchantment.
Cryptocurrency firms working within the Netherlands have been obliged to register as cash transmitters below the nation’s anti-money laundering guidelines since Could 2020.
The DNB mentioned Coinbase was out of compliance between November 2020 and “at the very least” August 2022, earlier than it efficiently registered on Sept. 22, 2022.
Throughout that interval “numerous uncommon transactions could have gone unnoticed by the investigative authorities”, it mentioned.
The DNB mentioned it had considered that Coinbase was one of many largest cryptocurrency firms and had a “vital variety of clients within the Netherlands”.
Coinbase has till March 2 to enchantment.
($1 = 0.9156 euros)
Reporting by Toby Sterling; Modifying by David Goodman and Alex Richardson
Our Requirements: The Thomson Reuters Trust Principles.
