Crypto.com added to alert list in Poland months after Dutch bank fine

Crypto.com added to alert list in Poland months after Dutch bank fine

Crypto.​com is facing its second regulatory battle in the European Union this year after its Malta-based operator Foris DAX MT was placed on an alert list by the Polish Financial Supervision Authority (KNF).

In a filing from November 6, Foris DAX MT is accused of providing financial services in Poland without the necessary authorization.

This allegation comes eight months after the De Nederlandsche Bank — the Dutch central bank — hit the company with a $3.1 million fine over breaches of anti-money laundering and anti-terrorist financing laws.

Firms that are placed on a KNF alert list aren’t banned in Poland but their listing serves as a warning to users and potential investors that the company may be engaging in unauthorized financial activities.

Crypto.com fined $3M by Dutch Central Bank over ‘severe’ violations

Read more: Former Crypto.com compliance officer charged with money laundering, extortion

Other crypto companies on the list include Bright Space LTD, which uses the website cryptotradecorp.com, and BitBay, which now operates as Zonda and is one of Poland’s biggest exchanges.

Protos has contacted Crypto.​com for comment and will update if we hear back.

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