Dutch Central Bank: Crypto Firms to Be Regulated as of January 2020
The Netherlands’ central bank has today revealed it will begin regulating firms that offer crypto-related services as of January 2020, ordering them to register.
Reuters reported on Sept. 3 that De Nederlandsche Bank clarified that relevant firms in the sector must register with the institution if they wish to continue to operate.
The bank’s official statement reportedly reads:
“In concrete terms, firms offering services for the exchange between cryptos and regular money, and crypto wallet providers, must register with De Nederlandsche Bank.”
Recent cryptocurrency developments in the Netherlands
In January, Dutch Minister of Finance, Wopke Hoekstra, received official advice from the Netherlands’ Authority for the Financial Markets and De Nederlandsche Bank that a licensing system should be introduced for cryptocurrency services.