Binance, the world’s largest cryptocurrency exchange, has been slapped with a 3.3 million euro ($3.4 million) fine from the Dutch central bank for operating in the Netherlands without registration.
The company was dealt a category 3 fine — the most stringent of DNB’s three levels of enforcement. The charge came in at the upper limit of the 2 million euros to 4 million euros maximum the bank can impose “due to the gravity and degree of culpability of the non-compliance,” DNB said in a statement.
Read what a spokesperson for Binance said on the issue:
Today’s decision marks a long-awaited pivot in our ongoing collaboration with the Dutch Central Bank.
While we do not share the same view on every aspect of the decision, we deeply respect the authority and professionalism of Dutch regulators to enforce regulations as they see fit.