De Nederlandsche Bank (DNB), the Dutch central Bank, fined cryptocurrency exchange Coinbase for 3.3 million euros, or around $3.6 million, due to non-compliance with local regulations for financial service providers, according to a Reuters report on Jan 26. The exchange reportedly failed to obtain the necessary registration to offer services in the Netherlands prior to beginning operations in the country. The DNB said it took into consideration the size of Coinbase as a company, and the fact that it has a “significant number of customers in the Netherlands.” The authorities claimed Coinbase was out of compliance during the time period …

Blockchain technology is not yet ready for implementation in financial markets, according to a report by De Nederlandsche Bank (DNB) on June 7. After three years of experimenting with Distributed Ledger Technology (DLT), of which blockchain is one type, DNB — the central bank of the Netherlands — has concluded that the current algorithms are unable to handle the volume of transactions of financial market infrastructures in a 100%-secure and energy-efficient way. According to the bank’s report, DNB has developed and evaluated four prototypes with the aim of gaining a better understanding of the technology and its potential usefulness for …