Coinbase Wins Dutch Approval That Should Give Crypto Exchange Access to All of EU

The company will gain access to the broader European market once the EU's markets in crypto assets regulation goes into effect.

AccessTimeIconSep 22, 2022 at 11:22 a.m. UTC
Updated Sep 22, 2022 at 5:38 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

Coinbase (COIN), the largest U.S. cryptocurrency exchange, won a regulatory approval from the Dutch central bank that will eventually give it the ability to offer services in the entire European Union.

Registering with the De Nederlandsche Bank will give Coinbase permission to offer crypto products and services to consumers and businesses in the country. Bitstamp, another crypto trading platform, was registered in the Netherlands in April 2021.

Once the EU's markets in crypto assets (MiCA) regulation comes into force, Coinbase will be able offer crypto trading services in the other 26 EU nations. The EU completed the full text of that legislation this week. Registration or licensing applications are underway in several other major markets, Coinbase said.

"The Netherlands is a critical international market for crypto, and I am really excited for Coinbase to bring the potential of the crypto economy to the market here,” Nana Murugesan, Coinbase's vice president of international and business development, said in a statement.

Coinbase follows rival crypto exchanges such as Binance, which registered in France, and Bitstamp, in Italy, in gaining regulatory approval in individual European countries this year, in theory making it easier to operate across the EU once MiCA becoming law.

UPDATE (Sept. 22, 16:25 UTC): Adds that Coinbase says it is first major crypto exchange in subheadline; an earlier version missed the attribution and the word "major." Adds Bitstamp achieved registration in 2021 in second paragraph.



DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

Investing in the Future of the Digital Economy
October 18-19 | Spring Studio, NYC