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Netherlands Approves Coinbase’s Full Suite of Crypto Products

The Netherlands Approves Coinbase’s Full Suite of Crypto Products

With bitcoin’s continuous growth, Coinbase has obtained regulatory clearance to operate in the Netherlands, the first significant cryptocurrency exchange to do so.

To allow it to provide its cryptocurrency products and services to Dutch customers, Coinbase successfully registered with the Dutch Central Bank on September 22.

Having received this approval, Coinbase can now offer its retail, institutional, and ecosystem products to Dutch consumers.

According to the company, regulation will drive crypto’s development by creating a clear ground rule environment that will stimulate innovation and build public and legislator confidence in the sector.

Coinbase’s Focus On Compliance

Coinbase’s vice president of international and business development, Nana Murugesan, discussed the development in a recent conference call and said that the company is a compliance-driven company.

According to him, they have taken steps to engage closely with government, politicians, and regulators to shape the future in a responsible manner. In an effort to achieve that goal. Coinbase strives to become the world’s first and most trusted cryptocurrency platform. Coinbase’s introduction of the crypto economy to the Dutch market is much-awaited since the Netherlands is an important market for cryptocurrencies internationally.

At the moment, Coinbase is facing a securities class action lawsuit for making false and misleading statements about its business, operations, and compliance policy before the United States District Court for the District of New Jersey. The Netherlands’ regulatory approval during this time is a welcome relief.

There have also been allegations against Coinbase of insider trading, accusing Ishan Wahi, a former global product manager, and his brother of a wire fraud conspiracy. They have pleaded not guilty. It will be a relief for the cryptocurrency exchange to receive this approval from the Netherlands. 

 

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