The Central Bank of the Netherlands fined the Coinbase crypto account $3.6 million – Bits Media

The Central Bank of the Netherlands appointed the European unit of the American cryptocurrency exchange Coinbase on $3.6 For violation of registration rules.

The company worked without registration in the region since November 2020 The Years on August 2022. The main claim officials are, that the company has not paid fees all this time, which gave her a competitive advantage before other market participants.

“Coinbase has a significant number of customers in the Netherlands. All the indicated time of the crypto -rope did not pay the bank any commissions and did not bear other expenses ", - says in the statement.

The Central Bank consider the incident a serious violation, Therefore, they increased the amount of the fine with the base in $2.18 million to $3.6 million. Coinbase does not agree with the fine, Representatives of the exchange count, that the entire period of work allegedly without registration, the company expected to receive this very registration. Claims of the Central Bank, They count in the company, do not concern its actually provided services.

Coinbase has time before 2 Martha, To challenge the fine. Representatives of the company said, that respect the CB claims, However, they intend to defend their position.

Previously, Moody’s rating agency lowered
Long -term credit rating (CFR) Coinbase to non-investment level B2 due to decreased in 2022 year of income of the company.