Crypto.com Receives Regulatory Approvals for Crypto Services in the Netherlands and Spain. The company is now authorized to operate in the Netherlands, offering a comprehensive range of crypto services, including crypto wallets. Additionally, Crypto.com recently obtained the VASP registration from the Bank of Spain, further strengthening its position in the crypto market.
Crypto.com, a prominent cryptocurrency service provider, has obtained official registration approval from De Nederlandsche Bank (DNB) to conduct operations in the Netherlands. The approval follows a thorough evaluation of Crypto.com’s business practices and compliance with the country’s Money Laundering and Terrorist Financing (Prevention) Act (Wwft).
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.
Learn… pic.twitter.com/MSiRJJ9KDy
— Crypto.com (@cryptocom) July 28, 2023
Crypto.com Welcomed in the Netherlands
Crypto.com’s registration approval allows them to offer a range of crypto services to users based in the Netherlands. This includes providing cryptocurrency wallets and facilitating exchanges between fiat currency and cryptocurrencies. This move represents a significant step forward for Crypto.com’s expansion in the Dutch market, allowing them to cater to the growing number of cryptocurrency enthusiasts and investors in the region.
The registration announcement marks a pivotal moment for Crypto.com, which was already accessible to users in the Netherlands before obtaining official approval. With recognition from De Nederlandsche Bank (DNB), Crypto.com can now solidify its presence in the Dutch cryptocurrency ecosystem. They can offer secure and compliant services to their expanding customer base.
In contrast, another major player in the cryptocurrency space, Binance, faced setbacks in its attempt to secure registration with the DNB. Consequently, Binance announced its decision to withdraw its efforts to become a registered cryptocurrency service provider in the Netherlands. This led to the platform ceasing operations in the jurisdiction, impacting its Dutch user base.
In another significant development, Crypto.com achieved a major breakthrough by obtaining the Virtual Asset Service Provider (VASP) registration from the Bank of Spain at the end of June. This achievement further reinforces Crypto.com’s commitment to regulatory compliance and adherence to the highest industry standards.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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