• Crypto.com revealed that it has been registered with the Netherlands’ central bank to offer cryptocurrency services to Dutch customers.
• Binance left the Dutch market after failing to obtain a registration in the Netherlands and recently withdrew its licensing application with German regulators.
• Crypto.com has obtained registration approval from various jurisdictions, including Spain, Italy, Australia, Cyprus, Greece, and South Korea.
Crypto.com Gets Approval from Dutch Central Bank
Crypto.com revealed that it had been registered with the Netherlands’ central bank De Nederlandsche Bank (DNB) to offer cryptocurrency services to Dutch customers. This follows a comprehensive review of the crypto exchange’s business and compliance with the country’s AML and anti-terrorism laws.
Binance Fails To Obtain Registration in The Netherlands
Rival crypto exchange Binance failed to obtain a registration in the Netherlands and later was hit by a $3.3 million fine for alleged unlicensed operation in the country before withdrawing its licensing application with German regulators as well.
Registration Approvals From Multiple Jurisdictions
Crypto.com has obtained registration approvals from multiple jurisdictions such as Spain, Italy, Australia, Cyprus, Greece and South Korea . The latest development is another testament of Crypto’s commitment towards compliance with global regulations around cryptocurrency operations and services .
Suspension Of Services For American Clients
In contrast , Crypto . com decided to suspend its institutional exchange services for American clients due to low demand from institutions amidst challenging market conditions in the US .
Conclusion
Overall , this news marks an important milestone for Crypto . com as they continue working towards obtaining registrations from other regulatory bodies around the world while maintaining their commitment towards compliance .