OKX was issued a €2.25 million penalty by the Dutch National Bank (DNB) for offering cryptocurrency services in the Netherlands from July 2023 ti August 2024 without proper AML registration.
Key Takeaways:
- DNB imposed a €2.25 million (~$2.6 million) fine for unregistered operations between July 2023 and August 2024.
- The fine was reduced due to OKX migrating Dutch users to its fully MiCA-licensed European entity.
- The Netherlands previously fined Crypto.com (€2.85M) and Kraken (€4M), reflecting intensified regulatory oversight under MiCA.
Earlier today, September 3, 2025, the Dutch National Bank fined global crypto exchange OKX €2.25 million, which is valued to roughly $2.6 million, for offering cryptocurrency services in the Netherlands without registering under the local anti-money laundering (AML) framework. On-chain reports, including CoinDesk which is one of the first to break the story, note that the investigation covered the period from July 2023 to August 2024, preceding the European Union’s Markets in Crypto-Assets (MiCA) regulation’s full enforcement.
In the DNB’s official website’s recent news, they noted:
Dutch central bank recently emphasized the warning in their official website, which resulted to a sizeable amount of administrative fine imposed on the crypto exchange. They also highlighted how OKX failed to operate legally as it was not registered with the DNB, citing the specific requirements and details of the regulations as well as when it all started to take effect.
“The fine imposed by DNB on Aux Cayes (OKX) relates to the period when Aux Cayes was required to register as a crypto service provider with DNB.” they added.
OKX Responds, Cites “Legacy Matter”
OKX, through a representative via email, described the fine by the DNB as a “legacy registration matter that has long since be remediated,” adding that customers and users were unaffected and have been moved to a fully MiCA-licensed European entity. The representative also highlighted that the penalty was the lowest the DNB had issued to a major exchange, signaling regulatory recognition of OKX’s cooperation.
Dutch Enforcement Pushes for MiCA Compliance
The Netherlands has taken a firm stance on unlicensed crypto operations. Previous fines include €2.85 million against Crypto.com and €4 million against Kraken for similar violations. Since MiCA’s rollout, the compliance bar for crypto exchanges across the EU has risen sharply, requiring licenses, expanded reporting, and stronger AML protocols. This signals the end of the “operate now, register later” model.
Market Reaction: OKB Edges Higher Despite Fine
Despite being hit with a considerable amount of penalty, the price of OKX’s native token OKB edged slightly higher. As of this writing (12:30PM UTC), the token is at a 9.2% gain over the past 24 hours, priced at $179.96, which is currently an intraday high. The token briefly dipped to $164.16 earlier but recovered quickly, showing resilience despite regulatory pressure on its parent exchange.
OKB’s recovery from its intraday low indicates confidence in the exchange’s long-term compliance strategy and business stability, even as regulatory scrutiny intensifies in Europe.
What’s Next for OKX?
OKX’s €2.25 million fine underscores Europe’s evolving approach to enforcing crypto regulation under MiCA. With past infractions now being retroactively addressed, exchanges must prioritize compliance or risk penalties—even for pre-MiCA periods. For OKX, remediation appears complete, but the episode serves as a warning: regulatory goodwill may soften fines, but the era of leniency is ending.
Summary
The Dutch National Bank fined OKX €2.25M (~$2.6M) for offering crypto services in the Netherlands without AML registration between July 2023 and August 2024. While the fine reflects stricter MiCA-era enforcement, regulators acknowledged OKX’s cooperation and migration of Dutch users to its licensed European entity, which helped reduce the penalty. The case follows similar fines against Crypto.com (€2.85M) and Kraken (€4M), highlighting Europe’s tougher stance on compliance. Despite the penalty, OKX’s token OKB gained ~9%, showing market confidence in its long-term regulatory strategy.
