bitcoin

Dutch Central Bank says Binance operations are illegal

The central bank of the Netherlands (De Nederlandsche Bank) has warned locals that crypto exchange Binance is operating illegally within the country.

According to the financial regulator, Binance does not comply with the Anti-Money Laundering and Anti-Terrorist Financing Act in its operations. And as such, is deemed to be “illegally offering services for the exchange between virtual and fiduciary currencies and it is illegally offering custodian wallets.”

The De Nederlandsche Bank says this could expose customers to the risk of “becoming involved in money laundering or terrorist financing.”

A link to check the list of crypto exchanges that are verified by the De Nederlandsche Bank was also included.

NEXT: Binance employ ex-IRS Official to combat Money Laundering

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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