Crypto.com announced that it has been registered with the Dutch central bank.
The information was released one month after rival Binance was forced to leave the country after failing to obtain registration.
Crypto.com has acquired registration with the Dutch central bank to operate crypto services, just a month after rival Binance failed to obtain registration in the country and was forced to quit.
According to Crypto.com, registration was granted after a thorough examination of its operations and compliance with the Netherlands’ Money Laundering and Terrorist Financing (Prevention) Act.
According to Kris Marszalek, CEO of Crypto.com, “collaborating with regulators to responsibly advance the crypto and blockchain industry is of paramount importance to Crypto.com.” This registration permission from De Nederlandsche Bank is an important step for our company and the most recent evidence of our dedication to compliance, according to the company.
Recent regulatory permissions for Crypto.com have been granted in a number of countries, including Singapore, where it is headquartered, France, Italy, the United Kingdom, Dubai, and Australia.
We're excited to share that https://t.co/vCNztATSCO has been approved for registration in the Netherlands🇳🇱 as a provider of crypto services.
This registration confirmation follows a comprehensive review of https://t.co/vCNztATSCO’s business and compliance practices.
— Crypto.com (@cryptocom) July 28, 2023
Crypto.com is one of several cryptocurrency companies that have registered in the Netherlands. Coinbase Europe, Bitstamp Europe, and Hidden Road Partners are among the other companies listed in the public register.
Binance Left The Netherlands A Month Ago
Binance quit the Dutch market last month after failing to obtain registration but stated that it will keep in contact with Dutch officials.
The Dutch central bank, DNB, rejects a crypto applicant if they do not submit all required information or if the information submitted is inaccurate. According to its website, the central bank will also turn down an application if it thinks that a policymaker or co-policymaker is unfit or acting in an incorrect way.