The logo of cryptocurrency exchange Binance displayed on a smartphone with stock market percentages in the background.
Omar Marques | SOPA Images | LightRocket via Getty Images
Binance, the world’s largest cryptocurrency exchange, on Monday was slapped with a 3.3 million euro ($3.4 million) fine from the Dutch central bank for operating in the Netherlands without registration.
The penalty came after an August 2021 warning from De Nederlandsche Bank (DNB) last year that Binance had offered crypto services in the country without authorization.
The company was dealt a category 3 fine — the most stringent of DNB’s three levels of enforcement. The charge came in at the upper limit of the 2 million euros to 4 million euros maximum the bank can impose “due to the gravity and degree of culpability of the non-compliance,” DNB said in a statement.
The breach took place over a “prolonged period,” the central bank said, spanning from May 21, 2020, until at least Dec. 1, 2021. “This is why DNB...
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