{"id":141125,"date":"2024-11-01T12:00:09","date_gmt":"2024-11-01T10:00:09","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=141125"},"modified":"2024-10-31T19:40:40","modified_gmt":"2024-10-31T17:40:40","slug":"bybit-fined-for-operating-without-dutch-registration","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bybit-fined-for-operating-without-dutch-registration\/","title":{"rendered":"Bybit Fined for Operating Without Dutch Registration"},"content":{"rendered":"
The DNB had implemented a registration requirement in May 2020, aimed at combating money laundering and terrorist financing in the crypto sector. Despite this regulation, Bybit continued its operations without registering until September 2023.<\/p>\n
The lack of registration meant that the DNB was unable to oversee Bybit\u2019s activities, raising concerns about the potential for suspicious transactions to go unchecked on the exchange.<\/p>\n
This violation falls under The Dutch Prevention of Money Laundering and Terrorism Financing Act (Wwft), which governs crypto service providers in the Netherlands prior to the upcoming Markets in Crypto-Assets Regulation (MiCAR), which takes effect on December 30, 2024. MiCAR will require crypto firms to obtain licenses to operate in the region.<\/p>\n