After undergoing a rigorous examination of its operations, Crypto.com is now fully registered as an authorized cryptocurrency service provider in the Netherlands.It joins the 36 cryptocurrency-related businesses that have been given regulatory approval by the De Nederlandsche Bank (DNB).
Notable crypto companies like Coinbase Europe, eToro, and Bitstamp are also among those on the DNB’s registered list.
Crypto.com announced this development via a blog post on July 28, 2023. The crypto exchange noted that the approval is a significant milestone because it highlights its strong commitment to compliance and adherence to the country’s Anti-Money Laundering (AML) and terrorism financing prevention regulations.
According to Kris Marszalek, the CEO of Crypto.com, expressed his delight with the approval and noted that the company is committed to working closely with regulators to foster the safe growth of the cryptocurrency and blockchain industries.
Marszalek also expressed enthusiasm for further collaborative efforts with De Nederlandsche Bank and other international regulatory authorities. He noted that by doing so, Crypto.com aims to contribute to a secure and well-regulated environment for the cryptocurrency market that promotes trust and confidence among users and stakeholders alike.
Prior to the official registration, Crypto.com’s services were accessible to users in the Netherlands, but the company was prohibited from actively soliciting or marketing its services to potential Dutch customers without proper registration.
Now, with the DNB’s approval, Crypto.com has obtained the necessary authorization to operate as a cryptocurrency service provider in full compliance with Dutch regulations. This approval not only solidifies their legitimacy in the market but also ensures that they can conduct their business lawfully and responsibly within the Netherlands.
Meanwhile, Binance has reportedly withdrawn its application for a cryptocurrency license in Germany. This decision was prompted by the rejection of their application for a custody license by the German Federal Financial Supervisory Authority (BaFin) on June 29, 2023. Before leaving Germany, the exchange had already exited from the Dutch market due to its inability to secure a virtual asset service provider license from Dutch regulators.
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