Dutch central bank fines this software developer 3.3 million euros

The Dutch central bank (DNB) said that it had fined Binance, one of the biggest cryptocurrency exchanges, 3.3 million euros ($3.35 million) for offering services in the Netherlands without being registered in the country.
The fine was issued against Binance Holdings Ltd. in April 2022, following a public warning issued against Binance in August 2021, DNB said. The bank said in a statement that Binance in June had indicated it would appeal.
The DNB said Binance had been in violation of Dutch money-laundering laws and had enjoyed a competitive advantage against companies that do have a DNB registration during the period it was in non-compliance—between at least May 2020 and Dec. 1, 2021.