Crypto-related business in Netherland will be required to register with the DNB (De Nederlandsche Bank) by Jan 10, 2020. On Tuesday (3 September), Dutch officials of the Central Bank of Netherland released a statement that Crypto companies must register with them including foreign-based companies which are offering their crypto services to the people of the Netherlands or not be able to continue to provide services in the country.
DNB has taken this measure to create a transparent, regulated environment in the crypto space. DNB confirms that crypto businesses need to be supervised under the 5th EU AMLD and its implementation in Dutch law. The fifth European anti-money laundering directive will come into the effect on Jan 10, 2020 as well.
It has been reported that earlier this year DNB and the authority for the financial markets in the Netherlands insisted upon an exclusive license for cryptocurrency-related firms in the country.
Source - CROWDFUND INSIDER
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