Crypto.com spent around two years operating in the Netherlands without bothering to register as required by the Dutch central bank — or pay the supervisory fees they were supposed to be paying. On October 2, 2023, the central bank imposed a €2.85 million (US$3.12 million) fine on the company for the period of unlicensed registration. The company had registered with the regulator in July of that year.The fine was announced in March 2024, and Crypto.com said it had appealed the penalty.Crypto.com was hardly the first exchange to fall afoul of the regulator: Binance was fined $3.35 million in July 2022 for the same, and Coinbase was hit with a $3.6 million for the same in January 2023. Binance later shut down their Dutch operations after failing to obtain a license.