Cryptocurrency exchange OKX has been fined €2.25 million (approximately $2.6 million) by the Dutch National Bank (DNB) for operating unregistered crypto services within the Netherlands. The penalty applies to activities from July 2023 to August 2024, predating the introduction of Europe’s new crypto regulations under the Markets in Crypto Assets (MiCA) regime. Before MiCA took effect, Dutch law mandated registration with DNB for all cryptocurrency businesses. 2020 saw this legislation enforced by the Netherlands. 2023- 2024 fines levied on OKX are relatively low compared to other major exchanges. This fine was lessened due to the company’s successful migration of Dutch users to its fully MiCA-compliant European entity. The exchange emphasizes a commitment to offering safe and compliant services across Europe and beyond. 2023, has not been without incident for OKX. It has faced fines previously in the Netherlands and abroad. Crypto.com and Kraken have also received fines for similar violations. Recently, OKX permanently burnt approximately 279 million of its own tokens, valued over $26 billion. This action significantly reduced the token’s maximum supply to just 21 million and restructured its tokenomics strategy. The exchange has also integrated Apple Pay into its Buy Crypto service for users in the US and European Economic Area (EEA).