Coinbase considering appeal against Dutch National Bank's decision to fine businesses

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Coinbase considering appeal against Dutch National Bank's decision to fine businesses

Illustration shows a representation of the coin and coinbase logo.

The fine mirrors were handed over to Coinbase rival Binance in July.

Coinbase said it was considering an appeal and that it disagreed with the decision of the DNB, which included no criticism of our actual services.

Since May 2020, companies operating in the Netherlands have to register as money transmitters under the country's anti-money laundering rules.

The DNB said that the coinbase was out of compliance between November 2020 and August 2022 before it can be registered on Sept. 22, 2022.

During that period a large number of unusual transactions may have gone unnoticed by the investigative authorities it said.

The DNB said that Coinbase had a large number of customers in the Netherlands, and that it had until March 2 to appeal.