HomeInvesting NewsCoinbase Stock Continues to Fall Despite Receiving a License From Dutch Regulators...

Coinbase Stock Continues to Fall Despite Receiving a License From Dutch Regulators to Sell Cryptocurrency

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Coinbase Stock (NASDAQ:COIN)

In a blog post published on Thursday, cryptocurrency exchange Coinbase Global (NASDAQ:COIN) said that it has received regulatory authorization from the central bank of the Netherlands to provide crypto-related goods to consumers in the nation. Despite the good news, Coinbase stock declined in the market.

According to Coinbase Global (NASDAQ:COIN), it is the first cryptocurrency exchange in the world to gain registration clearance from De Nederlandsche Bank, making it the pioneer in the field in the country in northwest Europe.

According to Coinbase Global (NASDAQ:COIN) v.p. of International and Business Development Nana Murugesan, “The Netherlands is a vital international market for bitcoin.”

Coinbase stock has stated that other registrations are in several crucial regions as it strives to grow its global footprint consistent with rules.

Coinbase stock received clearance from Italy’s regulatory body in July as part of its European development.

Coinbase Successfully Closed a $100 Million Cryptocurrency Exchange With a Wall Street Firm After a Trial Period.

The largest cryptocurrency exchange in the United States, Coinbase Global (NASDAQ:COIN), reportedly completed a $100 million transaction in early 2022 to test its client-driven trading initiatives, as reported by The Wall Street Journal on Thursday, citing individuals familiar with the situation.

People familiar with the matter told the WSJ that Coinbase stock price has fallen 73% year to date, has recruited at least four Wall Street traders, and created the so-called Coinbase Risk Solutions division to speculate on cryptocurrency using the company’s own money.

The exchange responded to the news by emphasizing that Coinbase stock does not engage in proprietary trading when a company uses its money to trade assets for profit.

Coinbase Global (NASDAQ:COIN) said in a blog post that it “sometimes purchases bitcoin as primary,” including for “our corporate treasury and operational objectives.” Since Coinbase’s goal is not to gain from the rising value of the cryptocurrency being exchanged in the near term, we do not consider this to be proprietary trading.

Coinbase Global (NASDAQ:COIN) Risk Solutions team aims to “increase institutional engagement in web3 beyond HODLing” by introducing cryptocurrency trading to large institutional investors.

In July, an ex-employee of Coinbase Global (NASDAQ:COIN) was arrested for insider trading in cryptocurrencies.

Featured Image-  Megapixl @ Burdun

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