Crypto.com Secures Registration Approval to Operate in Netherlands

Summary: Crypto.com has been granted approval by the Dutch central bank to operate as a cryptocurrency service provider, joining Coinbase Europe, eToro, and Bitstamp, among 36 other cryptocurrency-related enterprises. The registration allows crypto service providers to process fiat cash on exchanges and serve consumers with wallets.

Crypto.com is the most recent cryptocurrency company to get approval from the Dutch central bank to operate there. After a thorough evaluation of Crypto.com’s operations and compliance with the country’s Anti-Money Laundering and counter funding of terrorism laws, the exchange announced that it has registered as a cryptocurrency service provider with De Nederlandsche Bank (DNB).

Strategic Expansion

Coinbase Europe, eToro, and Bitstamp are just a few of the 36 cryptocurrency-related enterprises now registered with the Dutch central bank. Tobias Oudejans, a DNB press officer, clarified that the registration expressly permits crypto service providers to serve consumers with cryptocurrency wallets and process fiat cash on cryptocurrency exchanges.

Prior to the registration announcement, Crypto.com’s services were available to Dutch citizens. According to Oudejans, a service may lawfully accept customers from the Netherlands, but it would be against the law for an unregistered business to actively seek out or market to customers in the Netherlands.

After a failed attempt to get DNB clearance to operate as a cryptocurrency service provider in the Netherlands, Binance recently stated it will end operations there.

Another key event occurred at the end of June, when Crypto.com received the Virtual Asset Service Provider (VASP) registration from the Bank of Spain. This accomplishment further demonstrates the crypto exchange’s dedication to following all applicable regulations and maintaining the best standards in the industry.

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