Netherlands Slaps Binance 3 Mn EUR Fine
Dutch central bank announced that it has fined the world's largest cryptocurrency exchange, Binance, over three million euros for breaking Dutch law by registering its activities.
"On April 25, the Dutch central bank imposed an administrative fine of 3,325,000 euros (USD 3,376,000) on Binance Holdings Limited," the De Nederlandsche Bank (DNB) said.
"The fine was imposed because Binance offered crypto services in the Netherlands without registering them with the DNB as is legally required," the bank added.
Binance has appealed against the fine, the DNB said.
National authorities across the globe are increasingly leaning towards stiffer rules and consumer protection, as crypto firms push into the mainstream with high-profile TV advertising and celebrity endorsements.
