The Dutch central bank recently added a new stock exchange – BLOX – to the list of registered crypto companies.
Every crypto-company that wants to operate in the country must register and prove that it complies with the legal requirements.
Unfortunately, only three companies have registered so far, while the deadline is getting closer.
At the beginning of 2020, the Dutch parliament decided to pass new AML amendments, which meant that crypto exchanges must register with the country’s central bank. Those who did not want to do so were not allowed to continue operations in the country.
Since then, three crypto platforms have been added to the list of recognized exchanges, with the last one being added to the list only today.
The Dutch Central Bank recognizes its third crypto platform
The latest addition to the list of the Dutch central bank is a crypto stock exchange called BLOX. The exchange announced the news this morning via its blog and announced that it has received approval from De Nederlandsche Bank after registration.
The fact that BLOX is only the third exchange to be registered and approved by the bank is rather worrying for local crypto users, especially since the registration period is about to expire. The other two exchanges that have decided to register are Anvcoin Direct and AMDAX.
The bank recognized both, and they too received the same operating licenses as BLOX.
Those who do not register will have to stop all operations
About two months ago, in September 2020, the central bank also issued an announcement stating that crypto stock exchanges would be supervised by the bank itself under the fifth European AML Directive.
This will include all services offering crypto-fiat or crypto-to-crypto transactions, including crypto-wallet providers. The bank pointed out that these companies need to prepare for this and that the bank wants them to register.
This will be necessary as the bank is still very concerned about the use of cryptography in white-collar crime.
In order to be recognized, the stock exchanges must prove that they are “well organized” and able to deal with money laundering and terrorist financing.
The central bank will also continue to monitor their performance and ensure that they comply with the rules after registration. All those who do not register will be forced to cease all their activities after the deadline.