Dutch central bank adds a new crypto exchange to its registry

Earlier in 2020, the Dutch parliament decided to pass new AML amendments, which meant that crypto exchanges had to register with the country’s central bank. Those who did not want to do so would not be allowed to continue operating in the country.

Since then, three crypto platforms have joined the list or recognized exchanges, with the latest one only being added to the list earlier today.

Dutch central bank recognizes its third crypto platform

The newest addition to the Dutch Central Bank’s list is a crypto exchange called BLOX. The exchange shared the news via its blog earlier today, announcing that it received the approval of the De Nederlandsche Bank upon registration.

The fact that BLOX is only the third exchange to be registered and recognized by the bank is rather concerning to local crypto users, especially since the registration deadline is about to be reached. The two other exchanges that decided to register are Anvcoin Direct and AMDAX.

The bank recognized both of them, and they also received the same operating licenses as BLOX.

Those who fail to register will have to stop all operations

About two months ago, in September 2020, the central bank also released an announcement, noting that crypto exchanges will be supervised by the bank itself, under the fifth European AML directive.

That will include any and all services that offer crypto-fiat or crypto-to-crypto transactions, including crypto wallet providers. The bank noted that these firms need to prepare for this, and that the bank wants them to register.

This will be necessary, as the bank remains highly concerned about the use of crypto in economic crime.

In order to be recognized, exchanges will have to demonstrate that they are ‘well organized’ and capable of dealing with money laundering and terrorism financing.

Also, the central bank will continue following their performance and ensuring that they remain compliant with the rules even after registration. All those who fail to register will be forced to stop all of their activities after the deadline.