Dutch financial regulator plans licensing scheme for crypto exchanges

posted 7 months ago
Financial authorities in the Netherlands are planning a licensing scheme for crypto exchanges and wallet service providers in order to prevent money laundering and terrorism financing. DNB, the nation’s central bank, and the Netherlands Authority for the Financial Markets published a report earlier this week, suggesting that fiat-to-crypto exchanges and custody solution providers must be licensed as cryptocurrencies carry “high financial crime risks.”

“These risks must be addressed effectively, which can be achieved as a result of the international coordination of countermeasures that AMLD5 [the Fifth European Anti-Money Laundering Directive] provides,” the report states. “The evolution of cryptos is primarily internationally-oriented given their inherent cross-border nature, and cannot be confined to the Dutch market alone,” the report states.
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