Crypto.com, a prominent cryptocurrency exchange, has announced that it has registered as a cryptocurrency service provider with De Nederlandsche Bank (DNB), the Dutch central bank. The registration came after a thorough review of Crypto.com’s business practices and its compliance with Dutch Anti-Money Laundering and counter financing of terrorism requirements.
Currently, 36 cryptocurrency-related businesses, including Coinbase Europe, eToro, and Bitstamp, are registered with DNB. DNB press officer Tobias Oudejans, however, clarified that the bank could not comment on specific registrations due to legal requirements of supervisory laws.
The registration allows cryptocurrency service providers to offer cryptocurrency wallets to customers and process fiat currency on cryptocurrency exchanges.
While Crypto.com’s services were accessible in the Netherlands prior to this announcement, Dutch-based users could legally sign up for the service. However, any company that advertised its services to Dutch users without registration would be acting illegally.
This news follows Binance’s recent announcement that it would cease operations in the Netherlands after failing to receive approval from the DNB.
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