The England midfielder has been found guilty of ‘violating the basic rules of decent conduct’ and handed a €30,000 (£25,000) fine by UEFA.
He has also been given a suspended one-match ban, which will not be immediately enforced and is subject to a year-long probationary period.
It means Bellingham will be banned for any similar rule breaches between now and July 2025, but can face Switzerland in the quarter-finals of Euro 2024 on Saturday.
Bellingham made a crotch-grabbing gesture shortly after scoring a superb last-gasp equaliser in the 2-1 win, which was initially thought to be aimed at the Slovakian bench.
Bellingham took to social media later that evening to explain that his antics were an inside joke between himself and friends.
UEFA subsequently opened an investigation into the gesture, which has now concluded.
The Football Association was also fined a total of €11,000 for crowd disturbances and the lighting of fireworks among England fans in Germany.
Meanwhile, Turkey defender Merih Demiral was handed a two-match ban, effective immediately, for his goal celebration during the 2-1 win over Austria.
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