De Nederlandsche Bank (DNB), the Dutch reserve bank, fined cryptocurrency exchange Coinbase 3.3 million euros ($3.6 million), due to non-compliance with local guidelines for financial service providers, according to a Reuters report on Jan 26.

The exchange apparently failed to acquire the required registration to provide services in the Netherlands prior to beginning operations in the nation. The DNB stated it thought about the size of Coinbase as a business and the truth that it has a “significant variety of clients in the Netherlands.”

The authorities declared Coinbase was non-compliant throughout the time duration in between November 2020 and August 2022.

In December 2022, the DNB targeted the cryptocurrency exchange KuCoin stating that it too was running without a license and for that reason using services illegally.

In 2021 it targeted Binance Holdings Limited with comparable allegations, for which the exchange paid more than 3 million euros in fines due to the offenses.

Related: Coinbase CEO urges Bitcoin legal tender for Brazil, Argentina– Reaction

Because the beginning of the year, Coinbase has remained in the headings for many reasons connecting to its business operations.

On Jan. 10 it revealed that it will be slashing 20% of its labor force due to operational restructuring. It was on this very same day that the brother of the ex-manager of the crypto exchange was sentenced to 10 months in jail due to insider trading, which marked the very first known case of its kind in the crypto industry.

A week later Jan. 18 Coinbase revealed that it will stop its operations in Japan due to the continuous results of the bearish market trading downturn.

Despite less than preferable developments from the exchange, around the exact same time as it closed up shop in Japan it was reported that Coinbase stock had a 69% rise from its all-time low.

Furthermore, Cathie Wood’s ARK Investment included $17.6 M in Coinbase stock given that the start of 2023.