The measure of Holland central bank This only applies to companies that perform crypto-fiat conversions and / or companies that serve as custodians for digital currencies. Crypto-crypto exchange is excluded.


To comply with the latest Dutch anti-money laundering laws (AML), approved by the country’s parliament last month, the From the Nederlandsche Bank (DNB) entered Ultimatum to crypto companies operating in the country to register with the central bank before May 18.

This has been reported by the media Financial magnatesIn addition, the new laws comply with the guidelines and standards ALD recommended by the Financial Action Group (FATF).

Holland central bank Decrees mandatory registration for crypto companies

According to reports Financial magnates, The Dutch legislator has the laws of the Fourth Money Laundering Directive (AMLD4) already exists. However, it is not clear why the regulator or MEPs still rely on that AMLD4instead of relying on it AMLD5.

According to the new laws crypto companies must register with the Central bank or face an immediate hiring and refrain from their operations. They would also be fined and “Enforcement actions“”

CoinTelegraph said the strict two-week period to register with the institution Only required for providers who offer cryptocurrency conversion services or cryptocurrency. The exchanges that offer crypto-to-crypto trading services are excluded from this measure, for which the respective registration is not required.

May 18: Deadline

Drafts of corporate registration applications will automatically become formal applications by the implementation date in accordance with the terms of a transitional agreement. DNB He indicated that he would use the payment of outstanding fees.

To Cointelegraph, any provider who does not submit a draft application before May 18, You will be forced to suspend your activities. Those who continue to work without these measures may encounter problems in future applications.

Any company that violates registration requirements would be subject to compliance measures, the warned DNB.

AMLD5: Overcome obstacle

The store also said that crypto companies in the country have criticized the law from the start and believe that AMLD5 the FATF will be a barrier to your business.

For example, DailyBitcoin reported at the time that Deribit, a major exchange for cryptocurrency derivatives, also moved its base from the Netherlands to Panama, referring to the difficulty in meeting the strict recommendations of the FATF.

In particular, the Dutch regulatory authority issued such registration notices to crypto companies last September, but these were not properly enforced at this time.

In the meantime DailyBitcoin He reported that the Dutch central bank published a report in April outlining its intention to advance the European push to create a digital euro. The news came when the Chinese central bank had already tested its digital currency.

Related articles

The Dutch central bank will regulate providers of cryptocurrency services from January 2020

The Dutch ministers want to combat money laundering by regulating cryptocurrencies

The Netherlands assess the obstacles that prevent the development of FinTech

Sources: Financial magnates, Cointelegraph

Report by Arnaldo Ochoa / DailyBitcoin

Image from Pixabay


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