The Dutch Central Bank has fined cryptocurrency exchange Binance a 3.325 million euros ($3.37 million) fine for continuing to offer services to Dutch citizens without required registration, according to an official release on Monday.
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De Nederlandsche Bank (DNB) requires virtual asset service providers (VASPs) to complete registration under the the Money Laundering and Terrorist Financing Prevention Act.
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The fine was increased from 2 million euros as Binance has “a very large number” of customers in the Netherlands.
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The exchange objected to the fine, which was imposed on April 25.
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Binance has submitted for registration, which is being assessed by the central bank.
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Binance recently received regulatory registration in France, also obtaining a provisional approval to operate as a broker-dealer in Abu Dhabi in April.
