AML breach triggers major fine for a Netherlands crypto firm
Court proceedings reduced a major Dutch regulatory fine after a crypto firm breached registration rules tied to anti-money laundering obligations.
Dutch regulators have fined a cryptocurrency service provider for operating in the Netherlands without the legally required registration, underscoring intensifying enforcement across Europe’s digital asset sector.
De Nederlandsche Bank (DNB) originally imposed an administrative penalty of €2,850,000 on 2 October 2023. Authorities found the firm breached the Anti-Money Laundering and Anti-Terrorist Financing Act by offering unregistered crypto services.
Registration rules, introduced on 21 May 2020, require providers to notify supervisors due to elevated risks linked to transaction anonymity and potential misuse for money laundering or terrorist financing.
Non-compliance prevented the provider from reporting unusual transactions to the Financial Intelligence Unit-Netherlands. Regulators weighed the severity, duration, and culpability of the breach when determining the penalty amount.
Legal proceedings later altered the outcome. The Court of Rotterdam ruled on 19 December 2025 to reduce the fine to €2,277,500 and annulled the earlier decision on objection.
DNB has since filed a further appeal with the Trade and Industry Appeals Tribunal, leaving the case ongoing as oversight shifts toward MiCAR licensing requirements introduced in December 2024.
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