Bank AI

April

<ul>
 <li>Why the announcement was delayed or not made public at the time remains a mystery.</li>
 <li>The Netherlands officially recognized crypto.com in July 2023.</li>
</ul>
For running for more than two years without registration, <a href="http://crypto.com" target="_blank" rel="noopener noreferrer nofollow">Crypto.com</a> was penalized by the Dutch central bank, De Nederlandsche Bank (<a href="https://www.dnb.nl/en/" target="_blank" rel="noopener noreferrer nofollow">DNB</a>). The fine was publicized on March 13, although it was levied in October. Why the announcement was delayed or not made public at the time remains a mystery.
For offering cryptocurrency services without registration from May 21, 2020, until at least November 8, 2022, Foris DAX MT, doing business as Crypto.com, was fined 2.85 million euros ($3 million at the time) by the DNB on October 23, for violations of the law. Registration was made mandatory by the DBN on May 21, 2020.
<h3 class="wp-block-heading" id="h-stringent-compliance">Stringent Compliance</h3>
The Dutch Act Against Money Laundering and Terrorist Financing mandates that crypto service providers register. The penalties were raised from 2 million euros because of the seriousness of the infraction and the level of responsibility, according to the DNB.
Because it avoided paying compliance expenses and supervisory fees, Crypto.com had a leg up on the competition. Crypto.com had a “significant number” of customers during the period of non-compliance, and as DAX MT was not registered, it could not submit suspicious transactions to the Financial Intelligence Unit-Netherlands. On October 9th, Crypto.com submitted an official opposition to the DNB ruling.
Moreover, the Netherlands officially recognized crypto.com in July 2023. The DNB began requiring crypto service providers to register in April 2022. After a warning from the DNB in August 2021, <a href="https://thenewscrypto.com/binances-next-platform-enables-users-to-predict-futures-token-listings-with-rewards/" target="_blank" rel="noopener noreferrer nofollow">Binance</a> was fined 3.3 million euros, or $3.5 million at the time, for not being registered. After an unsuccessful effort to register, Binance stated in June 2022 that it will stop operations in The Netherlands.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/okx-secures-mpi-license-approval-from-singapores-mas/" target="_blank" rel="noopener noreferrer nofollow">OKX Secures MPI License Approval from Singapore’s MAS</a>

Crypto.com Penalized by Dutch Central Bank for Unregistered Operations

目录

TheNewsCrypto

发布于 2024年3月14日的其他文章

Dash Empowers Merchants with ivendPay Partnership: A Leap Towards Crypto Vending Solutions

Elon Musk says Tesla to allow Dogecoin payments; What’s next for DOGE?

EigenLayer outlines mainnet launch roadmap

Understanding RAM, the Resource Powering the EOS Network

$20 Threshold Challenge for Chainlink Price, Strong Potential Seen in Polkadot AI Alternative

Elon Musk Announced Dogecoin at the Tesla Factory in Germany! Can Tesla Be Purchased with DOGE? H...

订阅我们免费的电子期刊，获取每日最新加密领域动态！