OKX has been fined $2.6 million by the Netherlands’ central bank (DNB) for offering services in the country before the introduction of Europe’s Markets in Crypto Assets (MiCA) framework, according to a press release. The violation relates to the period from July 2023 to August 2024.
“This fine relates to a legacy registration matter that has long since been remediated, with no impact on customers,” a spokesperson for the exchange told CoinDesk via email. They added that the $2.6 million penalty is “the lowest fine” DNB has issued to a major crypto exchange, as OKX has already taken steps to secure a MiCA license to operate in the EU.
“We’re pleased to have resolved this matter and remain focused on building compliant, secure services across Europe and beyond,” the spokesperson said.
Before MiCA came into effect, crypto firms in the Netherlands were required to follow national regulations, including registering with the central bank. The transition to MiCA compliance involved moving from DNB registrations to a CASP license, with a transitional period for registered firms to meet the new EU-wide requirements.
This is not the first time OKX has faced penalties in Europe. In April 2025, the exchange was fined €1.1 million ($1.2 million) by Malta’s Financial Intelligence Analysis Unit for failing to comply with local Anti-Money Laundering regulations.
OKX’s Expansion into the Netherlands
OKX entered the Dutch market in 2024, rebranding from Okcoin Europe Ltd to OKX on April 10. By June, the platform officially launched in the Netherlands, supporting over 150 cryptocurrencies and 60 crypto-euro trading pairs. The firm also introduced the self-custodial OKX Wallet for Dutch users.
At the time, OKX Europe General Manager Erald Ghoos stated that the platform holds both a crypto service provider registration with DNB and a virtual financial asset service provider license in Malta. The fine may stem from the period when the exchange was still operating as Okcoin Europe.
In January 2025, OKX became one of the first exchanges to secure pre-authorization under the MiCA framework, and by February, it obtained a full MiCA license, enabling it to offer crypto services across all 28 European Economic Area states.
