Crypto.com Receives Registration Approval From The Dutch Central Bank – Here’s the Latest

Cryptocurrency platform Crypto.com acquired a registration approval with De Nederlandsche Bank (DNB), the Dutch central bank, as a crypto services provider.

Contributing to Crypto.com’s regulatory license momentum, the approval follows a “comprehensive review of Crypto.com’s business and compliance in line with the Netherlands’ Money Laundering and Terrorist Financing Act,” the company statement read.

We're excited to share that https://t.co/vCNztATSCO has been approved for registration in the Netherlands🇳🇱 as a provider of crypto services.

This registration confirmation follows a comprehensive review of https://t.co/vCNztATSCO’s business and compliance practices.

Learn… pic.twitter.com/MSiRJJ9KDy

— Crypto.com (@cryptocom) July 28, 2023

The Dutch central bank has so far registered 36 crypto businesses including BitPay, Bitstamp and Coinbase’s European arm. Having received approval as a crypto service provider, Crypto.com can provide exchange services from fiat to virtual assets such as Bitcoin (BTC) and Ether (ETH) and offer customers a crypto custodial wallet, the central bank noted.

Kris Marszalek, CEO of Crypto.com asserted that collaborating with regulators to responsibly move forward in the industry is of “paramount importance” for the company.

“This registration approval from De Nederlandsche Bank is a significant milestone for our business and the latest testament to our commitment to compliance.”

Crypto.com has secured licenses from various jurisdictions worldwide including a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore, registration as a crypto-asset business from the UK’s Financial Conduct Authority (FCA), and from authorities in Dubai, South Korea, Australia, the USA, among others.

Prominent Crypto Platforms Bid Adieu To the Netherlands

Binance, the world’s largest crypto exchange, said last month that it will leave the Netherlands after the company’s application to register under the Dutch crypto approval regime was rejected.

The exchange noted that Dutch residents would only be able to withdraw their assets from the platform, starting July 17 and further trading or deposits would not be possible.

The Netherlands, however, does not have specific legislation with respect to cryptoassets other than the Dutch implementation of the Fifth Anti-Money Laundering Directive (5MLD) in the Dutch Money Laundering and Anti-Terrorist Financing Act (Wwft).