Netherlands' Central Bank Issues Binance Warning
The Dutch central bank joined the ranks of regulators issuing warnings about the crypto exchange's activities.
The Dutch central bank joined the ranks of regulators issuing warnings about crypto exchange Binance operating without permission.
- "Binance is providing crypto services in the Netherlands without the required legal registration," De Nederlandsche Bank (DNB) said Wednesday.
- Binance is not in compliance with the country's anti-money laundering and anti-terror financing act, and is offering custodian wallets and services illegally, the DNB said.
- The warning pertains to Binance Holdings Ltd. as well as other Binance entities that offer crypto services in the Netherlands.
- DNB's announcement follows similar warnings from financial overseers in a number of jurisdictions in recent months, including the Hong Kong, Japan, Malaysia and the U.K.
- A Binance spokesperson said in an email to CoinDesk that the firm was “in the process of submitting an application for the required registration” and “will be working constructively with DNB.”
UPDATE (August 19, 00:25): Adds comment from Binance.
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