Coinbase has registered with DNB

CoinbaseNovember 08, 2022

The American crypto exchange Coinbase, has obtained, as the first major global exchange in the world, a registration with the Dutch central bank (DNB). The company is already active in 40 European countries and has announced that this registration enables it to offer her full suite of services in The Netherlands. The registration indeed allows Coinbase to legally advertise in The Netherlands and offer iDeal as a payment option.
The DNB states that all cryptocurrency exchanges and providers of crypto wallets must register themselves. Earlier this year the DNB has enforced this by fining Binance for operating without a registration. The supervision of the DNB is aimed at preventing money laundering and financing of terrorism in line with the Dutch law (Wwft, Sanctions Law 1977). This is more limited than supervision over traditional financial institutions, which also factors in financial risks to the consumer.