Dutch Financial Institution (DNB),According to the Associated Press on January 26, the Netherlands Central Bank punished the Coinbase cryptocurrency exchange with 3.3 million euros (3.6 million US dollars), mainly because it did not implement the local policies and regulations of financial industry service providers

It is reported that before the gradual operation of the Netherlands, the exchange could not obtain the application for registration needed to provide assistance in the Netherlands. DNB indicated that it fully considered the business scale of Coinbase as a company and other objective facts of having a large number of customers in the Netherlands

The government claimed that Coinbase was not standardized during the period from November 2020 to August 2022.

In December 2022, DNB determined KuCoin, a cryptocurrency exchange, which also operated without a license, and thus illegally provided services

In 2021, the enterprise made a similar complaint against Binance Holdings Limited, and the exchange paid more than 3 million euros in penalty.

ofCoinbase CEO urged BTC to become the currency of Mexico and Argentina - reflecting

Since the beginning of the year, Coinbase has made headlines today for many reasons of its business process operation.

On January 10, the company announced that it would lay off 20% of its employees due to the reorganization of operations. On the same day, the former manager brother of the data encryption exchange was sentenced to 10 months imprisonment for insider trading, which is also the first known case in the data encryption field.

On January 18, a week later, Coinbase announced that it would terminate its business process in Japan because of the continuous harm of the bleak trading in the bear market.

Although the rapid development of the exchange is not satisfactory, it is reported that the individual stocks of Coinbase have soared 69% from the historical bottom while Japan closed its stores.

In addition, since the beginning of 2023, Cathie Wood's ARK project investment has increased $17.6 million in Coinbase shares.