Crypto.com, a leading player in the global cryptocurrency sector, has recently been granted permission by the Dutch central bank, De Nederlandsche Bank (DNB), to offer its services within the country. This development marks a significant milestone for the crypto firm, which is now officially registered as a cryptocurrency service provider in the Netherlands.
Crypto.com’s Registration with De Nederlandsche Bank
In a recent announcement, Crypto.com unveiled that it had successfully registered with the DNB. This followed a thorough examination of the firm’s operations and its adherence to the country’s Anti-Money Laundering and counter-financing of terrorism norms.
The Scope of Registration
While the DNB maintains a policy of non-disclosure regarding specific registrations due to supervisory law restrictions, some insights were offered by Tobias Oudejans, the DNB’s press officer for supervision, fintech, cryptocurrencies, resolution, and payment systems. He elucidated that the registration essentially permits cryptocurrency service providers to offer cryptocurrency wallets to their customers and manage fiat currency transactions on cryptocurrency exchanges.
Impact on Dutch Cryptocurrency Users
Prior to this registration, Dutch users could legally access Crypto.com’s services. However, any company that advertised or solicited its services to Dutch users without being registered would be in violation of the law. With this new development, Crypto.com is now well-positioned to broaden its reach within the Dutch market.
This event marks a significant point in history for Crypto.com and the broader cryptocurrency sector. It underscores the growing acceptance of cryptocurrencies and related services across different jurisdictions, paving the way for a more integrated and regulated global crypto market.