After 10 years of operating, the international exchange Coinbase received regulatory approval from De Nederlandse Bank – DNB to operate in the Netherlands. A significant milestone in Coinbase’s continued international expansion.
What is ‘De Nederlandse Bank’?
De Nederlandse Bank – DNB is the Dutch regulator of all financial services and companies that work in the cryptocurrency sector. Dutch crypto laws and regulations insist that companies who allow buying, selling and storing of crypto currencies must register with the Dutch Central Bank.
Coinbase has registered itself and may continue to facilitate crypto transactions and the storage of crypto currency. This will also mean that customers must provide full identity verification, also known as KYC. By taking these steps, Coinbase is moving forward in terms of regulation and integration.
Given Coinbase’s history and reputation, this regulatory approval confirms confidence in large-scale cryptocurrency banks