Crypto.com, a crypto exchange that was launched in 2016, can get started in our little country. It has received the green light from De Nederlandsche Bank (DNB) after a comprehensive assessment of the activities and compliance with anti-money laundering and terrorist financing requirements in the Netherlands.
Crypto.com registration in the Netherlands
The popular crypto platform joins 35 other crypto exchanges registered with DNB. Crypto companies that want to operate in or from the Netherlands are forced to apply for registration in the public register of DNB.
Today Crypto.com released a blog know that it is increasing its footprint in Europe with the approval of DNB. Kris Marszalek, the CEO of Crypto.com, therefore considers the registration a “significant milestone for the company”.
Tobias Oudejans, press officer at DNB for supervision, fintech, cryptocurrencies, resolution and payment systems, clarified that the registration as a cryptocurrency service provider specifically allows to provide crypto wallets to customers and to process fiat currency on crypto exchanges.
Crypto.com’s services were already accessible to Dutch users before this, but Oudejans stated that a company without registration would act illegally if it offered or advertised its services to Dutch users.
Crypto.com currently has more than 80 million customers from all over the world and now offers Dutch people an extra option when it comes to choosing a place to trade crypto.
Binance chooses Dutch way out
The world’s largest crypto exchange Binance chose to close its doors in the Netherlands a while ago. The decision has to do with the fact that, unlike Crypto.com, it was unable to provide a virtual asset service provider (VASP) license to obtain in our country.
Since July 17, Dutch people can no longer trade on the platform and customers have now also received a warning to remove their bitcoin (BTC) and other cryptocurrencies from the platform. From August 17, Binance will close wallets, so the Dutch are forced to empty their account before then.