Today in Crypto: Coinbase Gets Dutch Regulation OK

Today in Crypto: Coinbase Gets Dutch Regulation OK

Coinbase has registered with De Nederlandsche Bank as a crypto service provider, through which it will offer all of its retail, institutional and ecosystem products in the Netherlands, according to a blog post.

Coinbase thinks regulation is an “enabler” for the crypto industry, which could provide clear rules that could add more innovation and trust later on.

“The Netherlands is a critical international market for crypto and I am very excited that Coinbase can bring the potential of the crypto economy to the market here,” said Nana Murugesan, Vice President, International and Business Development at Coinbase.

In other news, Canadian Prime Minister Justin Trudeau is going up against new Conservative leader Pierre Poilievre, with cryptocurrency being an issue that has emerged, Bloomberg wrote.

Trudeau said Poilievre’s ideas about cryptocurrency could be harmful.

“Had Canadians followed the advice of the opposition leader and invested in volatile cryptocurrencies in an effort to ‘forgo inflation’, they would have lost half of their savings,” Trudeau said.

In addition, the volatility of the cryptocurrency industry, which has cost thousands of jobs, will cause Kraken co-founder Jesse Powell to step down as CEO, Bloomberg reported.

This could be a pattern of sorts, with other top positions of Genesis’s Michael Moro and Michael Saylor, along with Sam Trabucco of Alameda Research, also stepping down.

In addition, South Korea has said that there have been more “abnormal” currency transactions, many of which are crypto-related, according to Bloomberg.

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