Crypto com has received approval from the Dutch central bank, ABN AMRO Bank (DNB), to offer cryptocurrency services in the Netherlands. The exchange underwent a comprehensive review of its operations and compliance with the country's anti-money laundering and countering the fin ancing of terrorism requirements before registering as a cryptocurrency service provider.
Currently, there are 36 cryptocurrency-related businesses registered with the Dutch central bank, including well-known companies like Coinbase Europe, eToro, and Bitstamp. The registration allows these cryptocurrency service providers to offer cryptocurrency wallets to customers and handle fiat currencies on cryptocurrency exchanges .
With this approval, Crypto com's services are now available in the Netherlands, but it's important to note that unregistered companies are prohibited from soliciting or advertising their services to Dutch users. While Dutch users can legally register for Crypto com's services, the exchange must Adhere to the regulatory framework put forth by the DNB to ensure compliance.
In contrast, Binance recently decided to halt its efforts to register as a cryptocurrency service provider in the Netherlands. The exchange ceased its operations in the jurisdiction after failing to obtain approval from the DNB, indicating the strict regulatory environment surrounding cryptocurrency businesses in the country.
