Global trading firm %OKX, operating under the name Aux Cayes Fintech Co., has been fined €2.25 million ($2.6 million) by the Dutch National Bank (DNB). The penalty covered the time between July 2023 and August 2024, when the company performed services in the Netherlands without appropriate registration.
Since 2020, the Netherlands has mandated digital asset providers to register with DNB to conform to anti-money laundering laws. The regulator has already approved a number of exchanges within the same framework, such as Crypto.com, fined with €2.85 million, and Kraken, which was fined with €4 million.
DNB affirmed that the OKX case involved non-registration before enacting the Markets in Crypto Assets (MiCA) rules within the European Union. MiCA has established a common framework of crypto service providers throughout Europe.
OKX countered by labeling the sanction a "legacy registration matter" that would not impact customers. According to a company spokesperson, Dutch users were already relocated to its MiCA-licensed European unit.
The exchange reported that the fine was the minimum one that DNB had set against a large exchange. It further stated that the figure was lower following the cooperation and remedial efforts that regulators had recognized. In an email statement, OKX emphasized that its business is to deliver compliant and secure services in European markets.
Global Scrutiny Extends Beyond the Netherlands
The Dutch fine is not the first instance of regulatory issues OKX has faced in various jurisdictions. In Malta, the company was fined a €1.1 million penalty on its European wing in April 2025 due to 2023 anti-money laundering deficiencies. After that case, the company reinforced its compliance procedures and obtained MiCA certification.
In 2025, the U.S. authorities fined OKX $504 million, the highest fine imposed on the exchange to date. The settlement answered the accusations that the company was an unlicensed money transmitter involved in illegal transactions. The agreement imposes strict controls on OKX and requires it to have an independent compliance consultant until 2027.
The fines in various jurisdictions highlight the pressure mounting on big crypto platforms by regulators. The governments also insist on increased transparency, internal controls, and compliance with local licensing policies.
The Dutch decision points to the transition period before %MiCA came into force. The new regime requires exchanges to license, file periodic reports, and demonstrate harder anti-money laundering checks.
In the case of the former, like OKx, Kraken, and Crypto.com, the business model of pre-registration expansion is no longer viable. European regulators are ensuring that previous lapses are punished despite the fact that compliance has been met since then.
COMTEX_468520965/2797/2025-09-03T10:10:47