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De Nederlandsche Bank (DNB), announced on Thursday, January 26, that it has imposed an administrative fine of €3,325,000 on Coinbase Europe Limited (Coinbase).
DNB says the fine was imposed since the US-based crypto exchange platform provided crypto services in the Netherlands in the past without registration with DNB, which is in non-compliance with the law.
The fine was imposed on January 18.
“Companies wishing to provide crypto services in the Netherlands are required to register with DNB under the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act,” says DNB.