Netherlands' Central Bank Issues Binance Warning

The Dutch central bank joined the ranks of regulators issuing warnings about the crypto exchange's activities.

By Jamie Crawley

Aug 18, 2021 at 2:06 p.m. UTC

Updated Sep 14, 2021 at 1:41 p.m. UTC

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

Jamie Crawley

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

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.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.

Jamie Crawley