Due to the regulatory restrictions of countries, it accelerates its work in this field and tries to take more cautious steps. BinanceGot bad news from the Netherlands.
world’s largest cryptocurrency exchange Binance continues to receive licenses from various countries Dutch Central Bank (DNB), famous stock market 3.3 million euros ($3.37 million) fine cut.
DNB said in a statement today that they fined Binance on April 25 for continuing to provide services to Dutch citizens without the necessary registration.
DNB in the Netherlands cryptocurrency companies wishing to provide the service are required to register with DNB under the Anti-Money Laundering and Terrorist Financing Act, and in this context, on 18 August 2021. Binance He stated that he had issued a general warning about
Stating that Binance has increased its penalty due to the large number of users in the country, DNB gave the following statements in the statement:
“DNB has made Binance the world’s largest crypto services provider with a daily trading volume of $13.7 billion, increasing the penalty imposed on the exchange due to Binance having a large number of clients in the Netherlands.
In addition, Binance gained a competitive advantage as it did not pay any taxes to DNB and incur other costs in connection with the ongoing audit by DNB.
Another important reason for the increased penalty is that violations occurred over a long period of time, from 21 May 2020, when the registration requirement was introduced, to at least 1 December 2021 (the date when the investigation was closed by the DNB).
Considering these violations to be too serious, DNB has increased Binance’s punishment.”
Finally, it was stated in the statement that Binance appealed this penalty on June 2 and the exchange applied for a registration that is being evaluated by DNB.