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

The company received the green light from De Nederlandsche Bank to offer its services in the country.

Crypto.com is the latest cryptocurrency firm to receive a green light from the Netherlands Central Bank to offer its services in the country.

The platform announced that it had registered as a cryptocurrency service provider with De Nederlandsche Bank (DNB), following a comprehensive review of Crypto.com’s business and compliance with the country’s AML and terror financing prevention requirements.

As previously reported, 36 cryptocurrency-related businesses are currently registered with the Dutch central bank, with the likes of Coinbase Europe, eToro and Bitstamp notable operators that also have clearance to operate in the Netherlands.

Related: Coinbase enters the Netherlands with central bank approval

Cointelegraph spoke exclusively to Tobias Oudejans, DNB press officer for supervision, fintech, cryptocurrencies, resolution and payment systems, who noted that the DNB could not comment on specific registrations due to legal requirements of supervisory laws.

Oudejans clarified that the registration specifically allows cryptocurrency service providers to supply cryptocurrency wallets to customers and process fiat currency and cryptocurrency exchanges.

Crypto.com’s services were accessible in the Netherlands before the registration announcement. Oudejans told Cointelegraph that Dutch-based users are legally allowed to sign up for a service, but a company without registration would be acting illegally if it solicited or advertised its services to potential Dutch users.

Binance recently announced that it would give up efforts to register as a cryptocurrency service provider in the Netherlands and cease its operations in the jurisdiction, after failing to get approval from the DNB.

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