{"id":16955,"date":"2023-01-27T01:34:25","date_gmt":"2023-01-27T01:34:25","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/coinbase-fined-for-operating-in-the-netherlands-heres-why\/"},"modified":"2023-01-27T01:34:25","modified_gmt":"2023-01-27T01:34:25","slug":"coinbase-fined-for-operating-in-the-netherlands-heres-why","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/coinbase-fined-for-operating-in-the-netherlands-heres-why\/","title":{"rendered":"Coinbase fined for operating in the Netherlands: here\u2019s why"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/01\/167999513_m-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/01\/167999513_m-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/01\/167999513_m-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/01\/167999513_m-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><\/picture><\/div>\n<ul>\n<li>Dutch Central Bank announces a $3.6 million fine on Coinbase.<\/li>\n<li>It says the crypto exchange has been in a regulatory violation.<\/li>\n<li>Shares of Coinbase Global Inc ended roughly flat on Thursday.<\/li>\n<\/ul>\n<p>Coinbase Global Inc seems to be up for another regulatory fine.<\/p>\n<p>On Thursday, the Dutch Central Bank forced a $3.60 million penalty on the cryptocurrency exchange for failing to comply with the domestic regulations.<\/p>\n<h2>What regulation did Coinbase not comply with?<\/h2>\n<p>In May 2020, Netherlands made it mandatory for businesses wanting to launch crypto-related services to register with the DNB first.<\/p>\n<p>But Coinbase, as per the central bank, did not go through such a registration and, therefore, was in regulatory violation for nearly two years; between November 2020 and August 2022. The DNB said:<\/p>\n<blockquote>\n<p>Coinbase has enjoyed a competitive advantage in that it has not paid any supervisory fees to DNB or incurred other costs in connection with DNB\u2019s regular supervision activities.<\/p>\n<\/blockquote>\n<p>Last year, the regulator had hit its peer <a href=\"https:\/\/www.centralbanking.com\/central-banks\/financial-stability\/7951006\/dnb-fines-binance-for-grave-regulatory-breach\" target=\"_blank\" rel=\"noopener\">Binance<\/a> with a $3.35 million fine as well.<\/p>\n<h2>Coinbase recently settled with the NYDFS as well<\/h2>\n<p>According to the Dutch Central Bank, the said non-compliance might have made the Financial Intelligence Unit miss a bunch of suspicious transactions through September of 2022.<\/p>\n<p>Nonetheless, Coinbase can appeal the penalty until March 2<sup>nd<\/sup>. Earlier in January, it signed a $100 million <a href=\"https:\/\/www.wsj.com\/articles\/new-york-financial-regulator-notches-100-million-settlement-with-coinbase-11672878334\" target=\"_blank\" rel=\"noopener\">settlement<\/a> with the New York Department of Financial Services (NYDFS) as well.<\/p>\n<p>A day earlier, Mizuho analyst Dan Dolev warned of a potential 40% downside in Coinbase stock (as Coin Journal reported <a href=\"https:\/\/coinjournal.net\/news\/coinbase-stock-could-tank-40-from-here-mizuho\/\">HERE<\/a>) that ended roughly flat on Thursday.<\/p>\n<p>Analysts expect the crypto company to report a $2.39 per share loss in its current quarter. A year ago, it had $3.32 of EPS instead.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/coinbase-fined-for-operating-in-netherlands\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Dutch Central Bank announces a $3.6 million fine on Coinbase. It says the crypto exchange has been in a regulatory violation. Shares of Coinbase Global Inc ended roughly flat on Thursday. Coinbase Global Inc seems to be up for another regulatory fine. On [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":16956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16955"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=16955"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/16956"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=16955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=16955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=16955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}