The Dutch central bank went beyond legal powers in charging companies to register for money-laundering purposes, a Rotterdam court said on Wednesday.
The legislation is still consistent with general norms of good governance, and the firms should still be considered under supervision, the judge said, adding that the legislation is still consistent with general norms of good governance. The decision has no bearing on costs for 2020, court officials said, and a separate legal case is still ongoing for 2022 fees.
The Netherlands, which will soon have to apply the EU's tough Markets in Crypto assets licensing regime, has taken a tough line on crypto firms, imposing millions of euros in fines on Coinbase and Binance for failing to register. The cryptocurrency exchange Gemini has announced that it will quit the country because of the DNB stricts, and Binance has also moved its Dutch clients to Coinmerce.
van der Meijde added: ''It is important that the government has made a commitment to the position of minister under his mandate.
In Europe, financial regulators are generally not taxpayer-funded, and they charge operational costs to supervised institutions in proportion to their size. In 2022, the total amount of crypto supervisory fees increased to 2.2 million euros, van der Meijde said.