Coinbase's footprint is expanding in Europe and has received regulatory approval in the Netherlands

Coinbase's footprint is expanding in Europe and has received regulatory approval in the Netherlands ...

Coinbase, a leading cryptocurrency exchange, has received regulatory clearance to operate as a crypto service provider in the Netherlands. In a blog post on Thursday, Coinbase stated that it has successfully registered with the Dutch Central Bank of Nederlandsche Bank (DNB) as a crypto service provider. The agreement will "allow Coinbase to offer our complete library of retail, institutional, and ecosystem products to customers in the Netherlands." Coinbase has been added on to a list of more than 30 other national central bank exchanges, such as OK

"As part of Coinbase''s ambition to be the world''s most trusted and secure crypto platform, we have taken steps to work with government, policymakers, and regulators to shape the future in a responsible manner," Nana Murugesan said.

Hoi, Nederland! We are proud to be the first major global cryptocurrency exchange to receive regulatory approval in the Netherlands, putting a significant step forward in Coinbase''s continued international expansion. Here https://t.co/UAWQFCDVkL pic.twitter.com/K6fMS6l3GE

In the Dutch market, the registration authorizes the crypto exchange to offer all of its retail, institutional, and ecosystem goods.

"Coinbase is proud of being a compliance-led business. The Netherlands is a crucial international market for crypto, and I am really excited for Coinbase to bring the value of the crypto economy here."

As long as clear regulatory frameworks will stimulate innovation and build trust in the crypto industry, the firm believes regulations will aid in the development of crypto.

Coinbase has already acquired operational licenses in Ireland, the United Kingdom, Germany, and Italy, as part of its European expansion strategy.

Following compliance with the requirements prescribed by the Italian financial watchdog, the Organismo Agenti e Mediatori (OAM) in July, the exchange erwrote a operational license in Italy. These requirements are part of the country''s efforts to combat illicit transactions and money laundering.

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Coinbase will expand into 26 other European Union countries through the registration in the Netherlands. The Market in Crypto Assets regulation (MiCA) regulation is also seen by the EU in its attempt to regulate the crypto wild west following the LUNA implosion and other challenges that increased the need for more strict crypto scrutiny.