Cryptocurrency exchange Crypto.com has received the green light from De Nederlandsche Bank (DNB) and is now legally allowed to offer and advertise its services in the Netherlands. Crypto.com becomes the latest crypto company to obtain approval from the Dutch central bank, allowing it to operate within the country.
As announced by the cryptocurrency trading platform, it is now officially registered with De Nederlandsche Bank (DNB) as a crypto service provider, following a comprehensive review of Crypto.com‘s business operations and compliance with the country’s Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) requirements.
Currently, there are 36 companies involved in cryptocurrency-related activities registered with the Dutch central bank. This list includes Coinbase Europe, eToro, and Bitstamp, all of which have also been granted permission to operate in the Netherlands.
Tobias Oudejans, a spokesman for DNB, clarified that the registration primarily allows crypto service providers to offer crypto wallets to customers and process the exchange between fiat currencies and cryptocurrencies.
Crypto.com‘s services were already accessible in the Netherlands before the registration. Oudejans confirmed that users based in the Netherlands were allowed to use unregistered services as well. However, a company without registration would be operating illegally if it actively markets or advertises its services to potential Dutch users.
In contrast, Binance recently announced that the leading cryptocurrency exchange would abandon its efforts to register as a crypto service provider in the Netherlands and cease its operations in the country after failing to obtain approval from the DNB.