De Nederlandsche Bank (DNB) revealed it imposed an administrative fine on centralized exchange Crypto.com after it allegedly operated and provided crypto services illegally for over two years in the Netherlands.
Crypto.com Fined For Providing Unregistered Services
The Dutch Central Bank fined Foris DAX MT Limited (DAX MT), known as ‘Crypto.com,’ over “non-compliance” with the country’s law. DAX MT operated unregistered in the Netherlands and offered crypto services for over two years.
Fine for Foris DAX MT Limited (https://t.co/GpTkySLssK) for providing crypto services without the required registration.https://t.co/qCNBA6iW5H
— De Nederlandsche Bank (@DNB_NL) March 13, 2024
Companies must register with the DNB under the Dutch Anti-Money Laundering and Anti-Terrorist Financing Act (Wwft) to be authorized to offer crypto services in the Netherlands.
The DNB found the exchange punishable for over two years of operations without registration. As the official
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