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.