On Tuesday, the Dutch Central Bank, announced it would begin regulating companies that offer cryptocurrency services beginning on January 10 and also stated that they must register in order to stay in business.
“In concrete terms, firms offering services for the exchange between cryptos and regular money, and crypto wallet providers, must register with De Nederlandsche Bank,”
Companies must be able to demonstrate that they are well equipped to combat money laundering and terrorist financing, and that administrators and other policymakers control these processes well.
Companies that do not register with DNB may no longer offer their crypto services.
Netherlands is added to list of European countries that started implementing regulations for the crypto-sector.
source nu.nl Image by Markus Christ from Pixabay