Companies representing cryptocurrency services in the Netherlands must undergo the mandatory registration procedure of the country’s main financial institution, otherwise they will be closed. This was reported by representatives of De Nederlandsche Bank (DNB), referring to the adoption of new anti-money laundering legislation (AML).
So, on April 21, the Upper House of the National Parliament adopted an amended version of the AMLD4 regulations, which now comply with the standards presented by the European Union and the Financial Action Task Force on Money Laundering. “The Ministry of Finance intends to enact the law on May 18, 2020. We ask you to apply for registration with DNB as soon as possible, ”the regulator said in an official statement. It is worth noting that DNB notes that companies have been given enough time to complete all the procedures on time. In case of failure to comply with requirements, the agency may send an order to immediately terminate the work and fine its owner.
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