Thirty-nine firms have utilized for registration with the Dutch central financial institution to offer cryptocurrency providers, the regulator advised information.Bitcoin.com. They embody crypto exchanges and custodial pockets suppliers.
Dutch Central Financial institution Begins Registering Crypto Service Suppliers
De Nederlandsche Financial institution NV (DNB), the Dutch central financial institution, has began actively registering firms to offer cryptocurrency providers.
Because of the implementation of the fifth EU Anti-Cash Laundering Directive (5AMLD), suppliers of alternate providers between cryptocurrencies and fiat currencies and suppliers of custodial wallets should apply for registration with the central financial institution. They have to exhibit compliance with the necessities of the Cash Laundering and Terrorist Financing (Prevention) Act and the Sanctions Act of 1977.
The 5AMLD implementation went into impact on Might 21 within the Netherlands. Since then, cryptocurrency service suppliers can solely perform their actions if they’re included within the public register of the central financial institution.
A spokesperson for the Dutch central financial institution advised information.Bitcoin.com:
Up to now we acquired 39 purposes.
In keeping with the general public register on the central financial institution’s web site, 4 firms have been granted registration to supply crypto providers. They’re Rotterdam-based 2525 Ventures, Amsterdam-based Amdax, Nijmegen-based Blox, and Veghel-based Phoenix Funds.
2525 Ventures additionally operates underneath the commerce names Litepay, Lightpaid, Lightbit, Litewallet, Litedeal, and Litebit. Phoenix Funds additionally operates as Anycoin Direct.
“It was with nice delight that we acquired the excellent news that we had been one of many first events to efficiently full the registration course of,” Anycoin Direct CFO Bram Ceelen commented, elaborating:
It was a tricky problem to undergo this course of. We made important changes to our order course of with a view to meet the registration necessities.
Corporations that had been already offering cryptocurrency providers earlier than Might 21 and have utilized for registration earlier than that date can proceed to carry out crypto actions throughout the registration course of.
The central financial institution “solely supervises compliance with the Cash Laundering and Terrorist Financing (Prevention) Act and the Sanctions Act 1977,” it defined. “The registered firms should not topic to the prudential supervision of DNB or the conduct supervision of the AFM [Authority for the Financial Markets]. Which means that monetary enterprise dangers should not monitored and there’s no particular monetary client safety.”
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