OKX Faces Dutch Fine for Unregistered Crypto Services Ahead of MiCA Transition

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Aux Cayes Fintech Co., the corporate name behind OKX, was fined €2.25 million by the Dutch National Bank (DNB) for offering crypto services in the Netherlands without proper registration with the regulator. The sanction covers the period from July 2023 through August 2024, prior to the European Union’s Markets in Crypto Assets regime (MiCA).

The Netherlands began requiring crypto firms to register with the DNB in early 2020 to align digital assets with anti-money laundering rules (Wwft). The DNB has previously sanctioned other exchanges for similar oversights, including Crypto.com (€2.85 million) and Kraken (€4 million).

OKX emphasized that the fine related to a legacy registration matter that has since been remediated and that there was no impact on customers. A representative stated that the penalty is the lowest ever issued by DNB against a major exchange and was reduced as recognition of the steps taken, such as migrating Dutch users to OKX’s fully MiCAR-licensed European entity. The company reaffirmed its commitment to providing compliant, secure services across Europe and beyond.