Regulator De Nederlandsche Bank adopted the European Union’s Fifth Anti-Money Laundering Directive (AMLD5) in April 2020.
The De Nederlandsche Bank is requesting that companies who provide these services register with the DNB before May 18.
Bittr, a BTC savings service based in the Netherlands has announced that it’ll shut down on April 28, blaming the way AMLD5 has been implemented in the country.
Central bank digital currencies could be a viable and positive alternative to fiat that could restore trust in the monetary system.
The Netherlands intend on introducing harsher punishments for its crypto scammers and digital money criminals who’ll now face up to six years in jail.
This past September, Dutch billionaire John de Mol made it clear that he wasn’t happy with his likeness being used to promote cryptocurrency.
The founder of Komodore64 is said to have raised $86M, but he never paid his suppliers or employees, and the company is now bankrupt.
Cryptocurrency firms will be obliged to register with the De Nederlandsche Bank from early 2020, and those that fail to do so will no longer be allowed to trade.
The Netherlands wants to put an end to money laundering, and they are looking at the crypto market as one of the problems.
Facebook has once again found itself in an unsettling predicament, breaking rules that it has enforced on its own platforms.