Crypto(dot)com has been fined by the DNB, the central bank of the Netherlands for bypassing registration requirements for an extended period.
According to Coindesk, the penalty was enforced for various reasons, one of which was serving a “considerable amount” of clients in the Netherlands, in addition to failing to pay supervisory expenses.
The Failure From Crypto(dot)com
The company had reportedly failed to register for over two years while providing crypto services, and a fine of $3 Million was imposed in October. However, the news of the fine was not disclosed until recently.
Crypto(dot)com, or Foris DAX MT, opted to ignore compliance requirements and continue to operate without registering until at least November 8, 2022. In addition to this DNB revealed that the standard fine for such activities starts at $2.5 Million. However, given the audacity and gravity of the situation, the penalty was increased.
Reportedly, Crypto(dot)com’s failure to report suspicious
We współpracy z: https://www.thecoinrepublic.com/2024/03/14/dutch-central-bank-blasts-cryptodotcom-with-a-fine-worth-3m/
