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Coinbase Receives Approval to Provide Full Suite of Crypto Merchandise in Netherlands

Crypto exchange Coinbase has received 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 in a responsible way,” Coinbase said.

Dutch Regulator Approves Coinbase

The Nasdaq-listed cryptocurrency exchange Coinbase (Nasdaq: COIN) announced 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 a crypto service provider.

Nana Murugesan, vice president of Coinbase’s international and business development, commented:

We have taken strides to work collaboratively with government, policymakers and regulators to shape the future in a responsible way.

“The Netherlands is a critical international market for crypto, and I am really excited for Coinbase to bring the potential of the crypto economy to the market here,” the executive opined.

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.

In August, the Dutch central bank warned that Binance is 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 $3.4 Million due to “very serious” violations. The crypto exchange subsequently applied for authorization to operate in the country with the central bank.

What do you think about Coinbase receiving approval to offer its full suite of crypto products and services in the Netherlands? Let us know in the comments section below.

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