In the words of Kris Marszalek, CEO of Crypto.com, “This registration approval from De Nederlandsche Bank is a significant milestone for our business and the latest testament to our commitment to compliance.”
Crypto exchange Crypto.com has regsitered with the De Nederlandsche Bank (DNB). Following this development, the exchange can act as a crypto service provider in the Netherlands.
We're excited to share that https://t.co/vCNztATSCO has been approved for registration in the Netherlands🇳🇱 as a provider of crypto services.
— Crypto.com (@cryptocom) July 28, 2023
This registration confirmation follows a comprehensive review of https://t.co/vCNztATSCO’s business and compliance practices.
Learn… pic.twitter.com/MSiRJJ9KDy
According to its blog post, the Singapore-based exchange managed to register with the Dutch central bank following a thorough review of its platform in compliance with the Netherlands' Money Laundering and Terrorist Financing Prevention Act.
The announcement came a few months after the exchange received the MVP Preparatory License from Dubai regulators. So far, 36 crypto platforms have already received regulatory approval from Dutch authorities. This includes OKCoin Europe LTD and Coinbase Euro Limited.
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The development is rather significant as rival exchange Binance recently failed to register with the DNB. In mid-June, Binance revealed its plans to exit the Netherlands and requested its Dutch clients to withdraw their assets from the platform.
Written by
Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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