Coinbase Gains Regulatory Approval in the Netherlands

Coinbase Gains Regulatory Approval in the Netherlands

Crypto exchange Coinbase gains regulatory approval to offer its full suite of retail and institutional crypto products and services in the Netherlands. "We have taken strides to work collaboratively with government, policymakers, and regulators to shape the future responsibly," Coinbase said.

The Dutch Regulator Approves Coinbase

The Nasdaq-listed cryptocurrency exchange Coinbase announced on Thursday that it "has successfully registered with the Dutch Central Bank (De Nederlandsche Bank, DNB) as a crypto service provider." The announcement details:

"This registration will allow Coinbase to offer our full suite of retail, institutional, and ecosystem products to customers in the Netherlands."

"We are proud to be the first major global crypto exchange to receive DNB registration approval," the company claimed, noting that Coinbase Europe Ltd. and Coinbase Custody International Ltd. are both listed in the DNB’s public register as crypto service providers.

Nana Murugesan, Vice President, Coinbase International, and Business Development commented:

"We have taken strides to work collaboratively with government, policymakers, and regulators to shape the future responsibly. The Netherlands is a critical international market for crypto, and I am excited for Coinbase to bring the potential of the crypto economy to the market here," the top executive said.

Coinbase explained that it serves customers across almost 40 European countries through dedicated hubs in Ireland, the U.K., and Germany. The company is also pursuing additional registrations or license applications in several major markets.

The Dutch Central Bank warned in August that Binance was illegally offering crypto exchange services in the country. "This may increase the risk of customers becoming involved in money laundering or terrorist financing," the regulator cautioned at the time. In July, the DNB said it fined Binance Holdings USD 3.4 million due to "very serious" violations. The crypto exchange subsequently applied for authorization to operate in the country with the central bank.