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Dutch central bank Imposes $2.4m fine on Bybit for service violations

The Netherlands' central bank, De Nederlandsche Bank (DNB), has fined cryptocurrency exchange Bybit €2.2 million ($2.4 million) for offering crypto services in the country without the required registration. Bybit failed to comply with the registration requirements mandated by the Anti-Money Laundering and Anti-Terrorist Financing Act, which aims to prevent illicit financial flows. Bybit's non-compliance hindered its ability to report unusual transactions. DNB determined the fine based on the severity, extent, and duration of the non-compliance, although it was reduced due to Bybit's efforts to rectify the situation. Bybit has committed to compliance and continues to work with European regulators.

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