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Crypto.com registers in the Netherlands, cleared to advertise services

Crypto.com has been granted approval by the Dutch central bank to offer its services in the country.

The company announced that it has registered as a cryptocurrency service provider with De Nederlandsche Bank (DNB), after undergoing a comprehensive review of its business and compliance with anti-money laundering and counter-financing of terrorism requirements.

Currently, there are 36 cryptocurrency-related businesses registered with the Dutch central bank, including Coinbase Europe, eToro, and Bitstamp.

Key Points:

  • Crypto.com has registered as a cryptocurrency service provider with De Nederlandsche Bank (DNB), allowing it to offer its services in the Netherlands.
  • The registration follows a thorough review of Crypto.com’s business and compliance with the country’s anti-money laundering and counter-financing of terrorism requirements.
  • There are currently 36 cryptocurrency-related businesses registered with the Dutch central bank.
  • Dutch-based users were able to access Crypto.com’s services before the registration announcement, but the company could not legally advertise its services without registration.
  • Binance recently announced that it would cease operations in the Netherlands after failing to secure approval from the DNB.

Crypto.com’s registration allows it to provide cryptocurrency wallets to customers and process fiat currency on cryptocurrency exchanges. Dutch-based users were already able to access Crypto.com’s services prior to the registration announcement, but the company was not legally allowed to advertise or solicit its services to Dutch users without registration.

In contrast, Binance recently announced that it would be ending its operations in the Netherlands after failing to obtain approval from the DNB.

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