After The Dutch Central Bank's Warning, Binance Was Reportedly Filing The Registration Application

The Dutch bank (DNB) issued an announcement on Wednesday stating that Binance did not have the required legal registration with DNB to provide crypto services in the Netherlands and illegally provide exchange services between virtual currency and fiat ones, as well as illegally provide custodial wallets. 

DBS warns that this may increase the risk of customers participating in money laundering or terrorist financing.

The warning involves Binance Holdings Ltd., the owner of intellectual property rights, and Binance's entities that provide cryptographic services in the Netherlands.

In this regard, a Binance spokesperson told The Block that the company is filing for the DBS registration application, he said: "We are aware of a notice by DNB about Binance in the Netherlands. As part of our commitment to redoubling our efforts in compliance, Binance is in the process of submitting an application for the required registration," the spokesperson said. "We will be working constructively with DNB and hope to give a positive update in the near future."

In recent months, financial regulators in multiple jurisdictions, including the United Kingdom, Japan, Hong Kong and Malaysia, have issued similar warnings to Binance.

By Mary Liu

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