The America-headquartered crypto exchange Coinbase carries on its aggressive EU scope widening, with the most recent regulatory greenlight coming from the Netherlands.
Specifically, Coinbase reportedly issued an official announcement regarding its successful registration from De Nederlandsche Bank (DNB) – the central bank of the Netherlands.
The regulatory go-ahead will reportedly offer Coinbase the legal power to provide its retail and institutional with crypto services in the land of tulips.
Per the official DNB records, Coinbase is among the top-tier global exchanges receiving the greenlight from the Dutch central bank to function cryptocurrency offerings together with smaller local crypto entities.
Coinbase Europe Limited and Coinbase Custody International are listed on DNB’s public register as crypto service providers.
The Dutch regulator is reportedly placing supervision on Coinbase Europe and Coinbase Custody in compliance with the Anti-Money Laundering (AML) and Anti-Terrorist Financing Act and the Sanctions Act.
“The crypto services of Coinbase are not subject to prudential supervision by DNB. Financial and operational risks related to crypto services are not monitored, and there is no specific financial consumer protection.” Coinbase further remarked.
The development reportedly surfaced not long following DNB’s revealing guidance devoted to policy on sanctions screening for crypto transactions on Sept. 16. In the Q&A document, DNB warned about various risks associated with cryptocurrencies, including anonymity.
Coinbase’s entrance into the Netherlands works accordingly with the firm’s aggressive expansion plans in the EU. Previously, the crypto firm disclosed details of its plan for widening the scope of its reach in Europe in June, citing the impact of a signifcant slump on crypto markets.