€ 22 million in four years
For four years, the Dutch central bank handed out enforcement measures to crypto exchanges serving the Netherlands without registration. The tally: € 22 million — five fines and two fully forfeited penalty orders.
Every line below comes from a published DNB decision, link included. No rumours, no estimates.
And the endings differ per name — who paid, who fought back and who eventually came in the front door is further down.
The five fines
| Exchange | Fined entity | Amount | Decision | How it ended |
|---|---|---|---|---|
| Binance | Binance Holdings Ltd | € 3,325,000 | 25 Apr 2022 | Objection withdrawn; final and paid in full. decision ↗ |
| Coinbase | Coinbase Europe Ltd | € 3,325,000 | 18 Jan 2023 | No objection filed; final. decision ↗ |
| Crypto.com | Foris DAX MT Ltd | € 2,850,000 | 2 Oct 2023 | Court reduced it to € 2,277,500; DNB appealed, case pending. decision ↗ |
| Bybit | Bybit Fintech Ltd | € 2,250,000 | 22 Oct 2024 | Moderated because Dutch customers were migrated to a registered partner. decision ↗ |
| OKX | Aux Cayes Fintech Co. Ltd | € 2,250,000 | 27 May 2025 | Moderated for the same reason; the violation ran until August 2024. decision ↗ |
As of 31 July 2026. Every row links to the decision or press release on dnb.nl.
The two that got no fine — and paid more
Kraken and KuCoin are not in the fines table. They paid more.
Both received an order subject to penalty: a command to stop, with € 500,000 forfeited per week for as long as you continue, capped at € 4 million. Kraken (Payward International Markets) let the meter run to that cap — decision ↗. KuCoin (Peken Global Ltd) did exactly the same — decision ↗.
Eight million euros, without a single fine involved. Ignoring an order costs more here than the violation itself.
What happened next
The measure is never the end of the story. Kraken registered after all: group entity Payward Continental Services has been in the DNB register since 7 February 2024. Bybit and OKX migrated their Dutch customers to a registered party and saw their fines moderated for it. Coinbase paid and now holds a MiCA licence via Luxembourg.
Binance paid, left the Netherlands in 2023 and the entire EEA on 1 July 2026. Crypto.com is the only one still litigating: the court took € 572,500 off the fine, after which DNB went to the Trade and Industry Appeals Tribunal.
Two public warnings preceded all of this: Binance in August 2021, KuCoin in late 2022. Whoever ignored the warning finds their name above.
The regime that fined them no longer exists
Every measure comes from one regime: the Dutch AML registration duty, in force from 21 May 2020 to 30 December 2024. Then MiCA took over and licensing moved to the AFM — how that works is here.
The fines remain. The law behind them is already history.
Frequently asked questions
Have all fines been paid?
Binance and Coinbase are final and paid, and the Kraken and KuCoin penalty orders were forfeited in full. Only the Crypto.com case is still running: the court reduced the fine and DNB has appealed.
What is an order subject to penalty?
A command to stop a violation, with an amount that forfeits automatically for as long as you continue — here € 500,000 per week up to a € 4 million cap. Kraken and KuCoin both let the meter run to the cap.
Can DNB still hand out fines like these?
The registration regime ended on 30 December 2024, when MiCA took effect; licensing now runs through the AFM. Old violations can still be settled — the Crypto.com case proves it.
Did Kraken get a fine?
No — something more expensive. Kraken received an order subject to penalty and let it run to the € 4 million cap, more than the highest fine on the list.