Crypto.com has secured registration with the central bank of the Netherlands to provide crypto services — just a month after rival Binance failed to get registration in the country and had to exit.
Crypto.com said it received registration following a comprehensive review of its business and compliance that aligned with the Netherlands' Money Laundering and Terrorist Financing (Prevention) Act.
"Collaborating with regulators to responsibly advance the crypto and blockchain industry is of paramount importance to Crypto.com," Kris Marszalek, CEO of Crypto.com, said in a statement. "This registration approval from De Nederlandsche Bank is a significant milestone for our business and the latest testament to our commitment to compliance."
Crypto.com has recently received regulatory approvals in several jurisdictions, including Singapore — where it's headquartered — France, Italy, the U.K., Dubai and Australia. As for the Netherlands, Crypto.com's parent company, Foris DAX Global Limited, will be listed in DNB's public register as a crypto service provider by Monday, a Crypto.com spokesperson told The Block.
Crypto.com is just one of several crypto firms to secure registration in the Netherlands. Other firms include Coinbase Europe, Bitstamp Europe and Hidden Road Partners, per the public register.
Binance left the Netherlands last month
Binance left the Dutch market last month after it couldn't secure registration but said it would continue dialogue with Dutch regulators.
The central bank of the Netherlands, DNB, refuses a crypto applicant if they fail to submit all required information or if DNB finds the information submitted incorrectly. The central bank also refuses registration if it finds policymakers or co-policymakers to be unfit or improper, according to its website.
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