- Crypto.com has secured registration approval from DNB to operate a crypto service in the Netherlands.
- The registration permits Crypto.com to offer a wide range of crypto services including crypto wallets.
- Recently, Crypto.com obtained the VASP registration from the Bank of Spain.
Today, Crypto.com, a leading cryptocurrency service provider, received official registration approval from De Nederlandsche Bank (DNB) to operate in the Netherlands. This development comes after a rigorous assessment of Crypto.com’s business and compliance with the country’s Money Laundering and Terrorist Financing (Prevention) Act (Wwft).
We're excited to share that https://t.co/vCNztATSCO has been approved for registration in the Netherlandsas 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
Netherlands Welcomes Crypto.Com
The registration permits Crypto.com to offer a range of crypto services to Dutch-based users. Including the provision of cryptocurrency wallets and facilitating both fiat currency and cryptocurrency exchanges. This move signifies a significant step forward for Crypto.com’s expansion into the Dutch market, enabling them to cater to a growing number of cryptocurrency enthusiasts and investors in the region.
However, the registration announcement marks a pivotal moment for the crypto exchange. Which had already been accessible to users in the Netherlands before the approval. Now, with the DNB’s recognition, Crypto.com can solidify its presence in the Dutch cryptocurrency ecosystem. Offering secure and compliant services to its expanding customer base.
In contrast, a major player in the cryptocurrency space, Binance, recently faced setbacks in its attempts to secure registration with the DNB. As a result, Binance announced its decision to withdraw its efforts to become a registered cryptocurrency service provider in the Netherlands. Consequently, the platform will cease operations in the jurisdiction, impacting its Dutch user base.
In another significant development, Crypto.com achieved a major breakthrough by obtaining the Virtual Asset Service Provider (VASP) registration from the Bank of Spain at the end of June. This achievement further reinforces the crypto exchange commitment to regulatory compliance and adherence to the highest industry standards.
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