Previous fines embrace €4 million for Kraken and €2.85 million for Crypto.com.
OKX additionally fined €1.1 million in Malta in April 2025.
$504 million settlement within the US retains OKX below oversight till 2027.
The Dutch central financial institution’s choice to superb OKX €2.25 million isn’t just a warning about regulatory oversight—it displays how European authorities are taking a retrospective method to compliance.
The penalty covers providers provided with out registration between July 2023 and August 2024, a interval earlier than the Markets in Crypto-Belongings Regulation (MiCA) got here into power.
By concentrating on previous exercise, regulators are making it clear that crypto exchanges shall be held accountable even for legacy practices, no matter whether or not they’re now licensed below Europe’s new regime.
Previous actions stay below scrutiny
Since 2020, the Netherlands has required crypto service suppliers to register below its anti-money laundering guidelines.
OKX, working with out approval throughout that timeframe, was present in breach. The DNB mentioned such violations “won’t be tolerated.”
The Netherlands has taken related motion towards different main exchanges.
Kraken paid €4 million, and Crypto.com paid €2.85 million, each for providing unregistered providers.
These penalties, together with OKX’s newest superb, present that enforcement applies retroactively and that regulators are usually not letting previous violations slide because the trade adapts to new frameworks.
World fines put highlight on compliance gaps
OKX has additionally been penalised in a number of jurisdictions. In April 2025, its European unit was fined €1.1 million in Malta for anti-money laundering shortcomings recognized two years earlier.
The corporate secured MiCA approval after overhauling compliance processes.
Earlier in 2025, in america, OKX agreed to a $504 million settlement.
It admitted to working as an unlicensed cash transmitter and processing illicit transactions.
The settlement requires OKX to function below strict oversight till 2027, together with hiring an unbiased compliance guide.
These fines present a constant sample: regulators are digging into earlier operations whereas demanding present compliance.
For exchanges, this implies penalties could arrive years after the unique breaches, creating extended uncertainty.
Dutch case handled as “legacy matter”
OKX, legally often called Aux Cayes Fintech Co., characterised the Dutch case as a “legacy matter” and mentioned it has already resolved the difficulty.
Dutch clients had been moved to its MiCA-licensed European entity, and the agency pressured there was no affect on clients.
The superb imposed by the DNB was decrease than penalties given to different exchanges, with the regulator recognising OKX’s cooperation.
Nonetheless, the motion reinforces a bigger pattern: exchanges can not merely comply right this moment and ignore yesterday.
Europe’s enforcement period below MiCA
The timing of the Dutch case is important. MiCA is now dwell throughout Europe, requiring exchanges to register, adjust to reporting guidelines, and cross stricter anti-money laundering checks.
Whereas OKX and others have secured licences, regulators are nonetheless pursuing earlier breaches.
This implies the period of “function first, register later” has ended, and exchanges are studying that legacy operations carry dangers lengthy after new frameworks are in place.
The Netherlands’ method signifies that different regulators throughout Europe could observe, reviewing previous exercise whereas implementing present guidelines.
