In a significant development for the crypto world, Crypto.com has received the green light from the Dutch central bank, De Nederlandsche Bank (DNB), to offer its services in the Netherlands.
The company successfully registered as a cryptocurrency service provider after undergoing a thorough review of its business and compliance with the country’s Anti-Money Laundering and counter-financing of terrorism requirements.
This registration sets Crypto.com apart as a legitimate player among 36 cryptocurrency-related businesses already registered with the DNB, which includes renowned names like Coinbase Europe, eToro, and Bitstamp.
Before the official registration, Crypto.com’s services were accessible to Dutch users, but with the recent approval, it can now operate fully in compliance with the law. It’s important to note that unregistered companies face legal consequences if they solicit or advertise their services to Dutch users.
In contrast, Binance faced challenges in the Netherlands, deciding to cease operations in the jurisdiction due to its failure to obtain approval from the DNB as a cryptocurrency service provider.
Also Read: Crypto.com Lists Reddit’s Moons Token on Exchange
With Crypto.com’s entry into the Dutch market, it’s expected that more users in the Netherlands will have access to its crypto services, providing them with additional options and opportunities in the booming cryptocurrency landscape.
