Crypto.com is now Registered as a Crypto Service Provider in the Netherlands
- Crypto.com has secured regulatory approval to operate in the Netherlands, as per a July 28 statement.
- The crypto exchange has been approved for registration with De Nederlandsche Bank (DNB).
- The exchange’s operations were approved after a comprehensive review of the company’s business.
- Binance recently tried to register with the central bank of the country but failed and had to leave the Netherlands.
Leading digital asset trading platform Crypto.com has officially registered as a provider of cryptocurrency services in the Netherlands. This marks another exchange entering the European Union, where the Netherlands has 12 representatives. Meanwhile, rival exchange Binance is having trouble getting licensed in European countries like the Netherlands and Germany.
According to the official announcement from Crypto.com on July 28, the crypto exchange has been approved for registration with De Nederlandsche Bank (DNB), not a very long time after Binance failed to get a license in the country and had to end its operations. The exchange claims that it received approval from the central bank of the Netherlands after a comprehensive review of its operations that aligned with the Netherlands’ Money Laundering and Terrorist Financing (Prevention) Act.
“Collaborating with regulators to responsibly advance the crypto and blockchain industry is of paramount importance to Crypto.com,” Kris Marszalek, CEO of Crypto.com, said. “This registration approval from De Nederlandsche Bank is a significant milestone for our business and the latest testament to our commitment to compliance.”
Interestingly, Crypto.com has secured regulatory approvals in some of the largest economies in the world. As per the announcement, the firm received its Major Payment Institution (MPI) license for Digital Payment Token (DPT) and its MPI for e-money issuance, account issuance, and cross border and domestic money transfer services from the Monetary Authority of Singapore; registration as a Digital Asset Service Provider (DASP) by the Autorité des marchés financiers (AMF) in France; registration approval as a crypto asset business from the UK Financial Conduct Authority (FCA); and approval of its MVP Preparatory Licence from the Dubai Virtual Assets Regulatory Authority (VARA).
As reported earlier by BitcoinWisdom, in September 2022, crypto exchange Coinbase became the first international cryptocurrency exchange to successfully register with the Dutch Central Bank (De Nederlandsche Bank).
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
