Global Cryptocurrency -Handel Company OKX was fined a fine of 2.25 million euros ($ 2.6 million) of the Dutch national bank (DNB) To offer crypto services in the Netherlands without having registered with Financial Regulator.
The fine of the company, whose official name is Aux Cayes Fintech Co., relates to the period July 2023 to August 2024, before the introduction of Europe’s Union markets in Crypto Assets regime (Glitter)According to a press release.
The Netherlands began to demand cryptic companies to register with DNB by early 2020, which brought digital assets in accordance with the country’s rules against money laundering (WWFT). The bank has punished several crypto exchanges for similar deficiencies, including Crypto.com, which was fined 2.85 million euros, and Kraken, which had to pay 4 million euros.
“This fine relates to an older registration case that has long been remedied without influence on customers,” said an OKX representative via E email. The Fine “is the lowest fine issued by DNB against a larger exchange and was reduced in recognition of the steps we took, including migratory Dutch users to our fully Mikars-Licensed European Unit. We are pleased to have resolved this case and remain focused on building compatible, secure services throughout Europe and beyond.”
