Coinbase successfully receives regulatory approval in Netherlands

The United States-based Nasdaq-listed crypto exchange Coinbase became the first to receive regulatory approval in the Netherlands to provide crypto services.

Coinbase is a publicly listed crypto exchange and it is known to provide highly compliance-based crypto services globally. The exchange has a highly talented team, which can create highly innovative tools. In August of last year, The United States Immigration and Customs Enforcement purchased a monitoring tool for $29k from Coinbase.

On 22 September, Coinbase exchange announced via a new blog post that it had received a green signal from Dutch Central Bank to provide crypto services in the Netherlands.

This regulatory approval will allow the exchange to provide crypto services to retail & institutional investors and also exchange can offer its crypto products.

“This registration will allow Coinbase to offer our full suite of retail, institutional, and ecosystem products to customers in the Netherlands,” the Coinbase post read.

Further Coinbase stated that the exchange aimed to bring innovations in the crypto sector under the full compliance ecosystem, to remain favorable to the public and policymakers, and to create better trust in the digital assets space. 

Nana Murugesan, Vice president at Coinbase’s International and Business Development, shared his happiness about the success of the company and said that the Netherlands is a critical global market and he is happy that Coinbase will bring the crypto economy to this sector.

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

Earlier this, on 8 September, Coinbase funded a public lawsuit to impose pressure on the US treasury department to revoke the imposed sanction on the crypto mixing platform Tornado Cash. Through the lawsuit, Plaintiff claimed that Tornado Cash is a neutral tool and can be used for good purposes. 

Later response by the US Treasury Department claimed that Tornado Cash may be a neutral platform but in reality, bad actors were using it for their illegal fund transactions. 

Read also: GitHub unbans crypto mixing platform Tornado Cash