on the crypto
Cryptocurrencies today represent a dynamic and constantly evolving market. Despite the crises it has gone through, it remains a sector that continues to grow in value.
This certainly explains why more and more countries are starting to pay attention to this sector, which until recently was still non-existent in the eyes of governments around the world.
One of the latest trending news in the cryptocurrency world is definitely Coinbase's approval to operate in the Netherlands. Coinbase has thus become the first major cryptocurrency exchange platform to receive approval in the country through this channel.
Official registration of Coinbase in the Netherlands
The good news was announced by Coinbase's vice president of international and commercial development, Nana Murugesan, in a blog post published on Thursday. According to the post, the exchange was the first to register in the Netherlands.
Coinbase has received official approval, having successfully registered with the Dutch Central Bank (DNB). Thanks to this approval, the platform is now able to offer its cryptocurrency products and services to customers residing in the Netherlands.
In her article, Nana Murugesan states that the company has taken an important step in its international expansion strategy. He believes that with registration, Coinbase will have more leeway to offer a more complete range of products to its Dutch users.
The gradual regularization of the cryptocurrency market
The vice president of Coinbase's international and commercial development team took the opportunity of this development to emphasize how significant this move is for the entire community.
He said the approval will help spur growth in the cryptocurrency market and prove to the world that Coinbase is truly a compliance-oriented company.
Furthermore, Coinbase has already expressed itself on the regulatory factor of the market. He believes that regulation of the cryptocurrency sector should not be a source of fear.
Rather, it sees it as a facilitator of market growth, as with better regulation you will have access to clear ground rules that will create an environment that encourages innovation and builds trust in the industry from the public and policy makers.
With the approval received from the Dutch authorities, Coinbase will be able to operate in the other 26 member states of the European Union. This, once the EU MiCA goes into effect on the cryptocurrency market.
However, Coinbase is not the only exchange platform to have received authorization in EU countries. In fact, several rival platforms such as Binance and Bitstamp have already been approved in France and Italy respectively.
Good news for Coinbase as it faces legal problems
If the announcement of regulatory approval by the Netherlands is welcomed by Coinbase executives, it is undoubtedly because it represents a moment of great relief for the platform.
Indeed, Coinbase has faced persistent legal problems in recent months. The blockchain platform is the subject of a class action lawsuit by securities in the US District Court of New Jersey. According to the complaint, Coinbase is guilty of making misleading statements not only about its business and operations, but also about its compliance policies.
