The Dutch central bank (DNB) said on Monday that it had fined Binance, the world's leading crypto-asset exchange, more than €3 million for violating Dutch registration regulations. activities.
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“
On April 25, 2022, the Dutch central bank imposed an administrative fine of 3,325,000 euros on Binance Holdings Ltd.
“, said the DNB in a press release published on Monday.
“
The fine was imposed because Binance offered crypto services in the Netherlands without the legally required registration with DNB.
It is forbidden
,” she added.
“R
isk of criminal financial flows
”
Binance has now applied for registration and appealed the sanction, DNB said.
Companies wishing to offer cryptocurrency services in the Netherlands are required to register with the DNB under the Money Laundering and Terrorist Financing Act.
"
Without this registration requirement, it is less easy to control the risk of criminal financial flows
", explains the bank, describing
Binance's "
violations " as "
very serious
" .
Despite their popularity in recent years, the use of cryptocurrencies continues to be associated by some politicians with fraudulent practices such as money laundering.
The regulation of crypto-assets is a central subject, in the United States as in Europe, where the authorities are tightening the screws to better regulate a market that is still young.
Binance obtained in France at the beginning of May from the Financial Markets Authority (AMF) its registration to be able to exercise.
This authorization "
as a service provider on digital assets
" is the first in Europe for the group, where the authorities of the United Kingdom considered last year that the activities of Binance could not be supervised properly and posed a risk to consumers.
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After a good period during the pandemic, cryptocurrencies, known for their volatility, have fallen sharply in recent weeks, suffering from lower investor appetite for risk.
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