Odaily News Bybit Powered by SATOS acknowledges the decision of the Dutch Bank (DNB) to fine it €2,250,000 for providing services without registration between October 2, 2020 and September 15, 2023. Bybit respects the decision of DNB. As the first exchange to be regulated in the Netherlands since the regulator’s announcement, Bybit began remediation efforts as early as 2022, facilitating the transfer of customers in the Netherlands to SATOS BV to minimize potential financial losses and impact on consumers. During this process, Bybit kept DNB fully informed and successfully completed the transfer of Dutch customers on September 15, 2023. Since September 2023, Bybit has been operating under Bybit Powered by SATOS, utilizing the SATOS Virtual Asset Service Provider (VASP) license recognized by DNB. Bybit recently opened a local office in Amsterdam to better serve Dutch users.