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Saturday, October 17, 2020

NEW REGULATIONS, THIS CRYPTO COMPANY CAN GET AN OPERATING LICENSE FROM THE CENTRAL BANK OF THE NETHERLANDS


 

The Central Bank of the Netherlands, De Nederlandsche Bank NV (DNB), granted the operating license to AMDAX BV. The company is the first to become an approved digital asset company in the country. The reason is, the Netherlands is included in a country known for its strict regulations related to crypto assets.


According to a brief report on October 7, 2020 from Finextra, currently the digital asset company can fully operate. This includes services for buying / selling digital assets.


Quoted from Cointelegraph, AMDAX will later be able to process crypto transactions and also store the crypto currency in the Netherlands.


Not only that, these companies must also comply with European Union regulations, including the anti money laundering law or the AMLD5 Act.


In September 2019, DNB required every entity involved with cryptocurrencies to register with the central bank. It was recorded that in January 2020 this was the first time the request was approved.


There are several crypto companies already operating in the country, but recent regulations have resulted in some companies moving their centers of operations to other countries or by closing their operations completely.


With AMDAX's operational license approved, it means the first time a crypto company is registered under the new regulations.

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