39 companies Applied to supply Crypto Services below New Regulation, Says Dutch financial organisation

ByClark

Thirty-nine corporations have applied for registration with the Dutch financial organisation to supply cryptocurrency services, the regulator told news.Bitcoin.com. They embrace crypto exchanges and guardian case suppliers.
Dutch financial organisation Begins Registering Crypto Service suppliers
De Nederlandsche Bank Nevada (DNB), the Dutch financial organisation, has started actively registering corporations to supply cryptocurrency services.

As a results of the implementation of the fifth EU Anti-Money wash Directive (5AMLD), suppliers of exchange services between cryptocurrencies and edict currencies and suppliers of guardian wallets should apply for registration with the financial organisation. they need to demonstrate compliance with the necessities of the money wash and Terrorist finance (Prevention) Act and also the Sanctions Act of 1977.
The 5AMLD implementation went into impact on could twenty one within the Netherlands. Since then, cryptocurrency service suppliers will solely do their activities if they’re enclosed within the public register of the financial organisation.

A proponent for the Dutch financial organisation told news.Bitcoin.com:
So far we have a tendency to received thirty-nine applications.
According to the general public register on the central bank’s web site, four corporations are granted registration to supply crypto services. they’re Rotterdam-based 2525 Ventures, Amsterdam-based Amdax, Nijmegen-based Blox, and Veghel-based Phoenix Payments.
2525 Ventures conjointly operates below the trade names Litepay, Lightpaid, Lightbit, Litewallet, Litedeal, and Litebit. Phoenix Payments conjointly operates as Anycoin Direct.
“It was with nice pride that we have a tendency to received the great news that we have a tendency to were one amongst the primary parties to with success complete the registration method,” Anycoin Direct corporate executive Bram Ceelen commented, elaborating:
It was a tricky challenge to travel through this method. we have a tendency to created important changes to our order method so as to satisfy the registration needs.
Companies that were already providing cryptocurrency services before could twenty one and have applied for registration before that date will still perform crypto activities throughout the registration method.
The financial organisation “only supervises compliance with the money wash and Terrorist finance (Prevention) Act and also the Sanctions Act 1977,” it explained. “The registered corporations don’t seem to be subject to the prudent management of DNB or the conduct management of the AFM [Authority for the money Markets]. this implies that money business risks don’t seem to be monitored and there’s no specific money client protection.”

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Clark

Head of the technology.

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