Binance fined €3.3M in Netherlands

The Bank of the Netherlands fined Binance, the world's largest cryptocurrency exchange, in the amount of 3.3 million euros, Report informs via the Netherlands Broadcasting Corporation (NOS).

The fine was imposed on April 25, but it was made public only on Monday. According to NOS, the company was fined for operating in the Netherlands without registration, which is mandatory.

This obligation came into force in the Netherlands on May 21, 2020, to combat money laundering and terrorist financing. In August last year, Binance received a warning from the Bank of the Netherlands, after which it applied for registration. At this stage, the application is under consideration.

At the same time, the cryptocurrency exchange filed an appeal against the decision on the fine.