The World Cryptocurrency OKX Cryptocurrency Society was sentenced to a fine of 2.25 million euros ($ 2.6 million) by the Dutch National Bank (DNB) To offer crypto services in the Netherlands without having registered with the financial regulator.
The fine on the company, whose official name is at Cayes Fintech Co., relates to the period from July 2023 to August 2024, before the introduction of the Union markets in Europe in the Crypto assets regime (Mica)According to a press release.
The Netherlands began to demand that cryptographic companies register with the DNB at the beginning of 2020, by granting digital assets in accordance with the country’s anti-whiteness rules (WWFT). The bank punished several crypto exchanges for similar gaps, including Crypto.com, which was sentenced to a fine of 2.85 million euros, and Kraken, who was to pay 4 million euros.
“This fine concerns a question of inherited recording which has long been corrected, without impact on customers,” said an OKX representative by e-mail. The fine “is the lowest fine issued by DNB for a major exchange and has been reduced in recognition of the measures we have taken, including Dutch users Migration to our entirely licensed European entity. We are delighted to have resolved this question and to remain focused on conformity and secure services through Europe and beyond.”
