Crypto.com has been registered with the Dutch Bank because it demonstrated that it meets the anti-money laundering requirements of the regulator. The license is necessary for the crypto exchange to do business in the Netherlands.
With the registration, Crypto.com has been approved in the Netherlands to offer the services. Cryptocurrencies such as bitcoins and ethereum are traded via the platform.
Registration with the Dutch Bank (DNB) is very popular. The largest crypto exchange in the world, Binance, was previously fined millions for being illegally active on the Dutch market.
The platform also did not receive DNB registration. As a result, the trading platform had to withdraw from the Netherlands . Since July 17, it is no longer possible to buy or trade crypto coins via Binance.
Other licensed platforms are trying to attract customers who left Binance. Because Crypto.com now has a registration, the company can, among other things, advertise and establish its office here.
Crypto.com director Kris Marszalek calls it important to work with regulators such as DNB to advance the crypto market. “This is an important milestone for us and the latest demonstration of our commitment to complying with all regulations.”
DNB also monitors money laundering and the financing of terrorism via cryptocurrencies. The registration therefore does not mean that the platform is checked for matters such as financial stability or risks.
