• Crypto.com is the latest exchange to receive approval from De Nederlandsche Bank (DNB) to offer its services in the Netherlands.
• The registration allows Crypto.com to provide cryptocurrency wallets and process fiat currency on cryptocurrency exchanges in the country.
• Binance recently gave up efforts to register as a Cryptocurrency Service Provider in the Netherlands after failing to get approval from DNB.
Crypto.com Cleared To Advertise Services in Netherlands
Crypto.com has been cleared by De Nederlandsche Bank (DNB) to offer its services in the Netherlands, following a comprehensive review of Crypto.com’s business and compliance with Anti-Money Laundering and Counter Financing of Terrorism requirements set by the Dutch central bank. The exchange is now one of 36 cryptocurrency-related businesses registered with DNB, including Coinbase Europe, eToro and Bitstamp.
What Services Will be Provided?
The registration specifically allows Crypto.com to supply cryptocurrency wallets and process fiat currency on cryptocurrency exchanges for customers located in the Netherlands. Tobias Oudejans, DNB press officer for supervision, fintech, cryptocurrencies, resolution and payment systems noted that Dutch-based users are legally allowed to sign up for their services but companies without registration would be acting illegally if they solicited or advertised their services to Dutch users.
Binance Fails To Get Approval From DNB
Binance recently announced that it would give up efforts to register as a Cryptocurrency Service Provider in the Netherlands and cease operations in the jurisdiction after failing to get approval from DNB.
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