1 day ago
Global cryptocurrency trading steadfast OKX was fined 2.25 cardinal euros ($2.6 million) by the Dutch National Bank (DNB) for offering crypto services successful the Netherlands without having registered with the fiscal regulator.
The good connected the company, whose authoritative sanction is Aux Cayes Fintech Co., relates to the play July 2023 to August 2024, earlier the instauration of Europe Union’s Markets successful Crypto Assets authorities (MiCA), according to a property release.
The Netherlands started requiring crypto firms to registry with the DNB successful aboriginal 2020, bringing integer assets successful enactment with the country’s anti-money laundering rules (Wwft). The slope has punished respective crypto exchanges for akin shortcomings, including Crypto.com, which was fined 2.85 cardinal euros, and Kraken, which had to wage 4 cardinal euros.
“This good relates to a bequest registration substance that has agelong since been remediated, with nary interaction connected customers,” said an OKX typical via email. The good "is the lowest good issued by DNB against a large speech and was reduced successful designation of the steps we took, including migrating Dutch users to our afloat MiCAR-licensed European entity. We’re pleased to person resolved this substance and stay focused connected gathering compliant, unafraid services crossed Europe and beyond.”
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