The Dutch central bank approved Crypto.com’s license to provide citizens with crypto services soon after competitor Binance fell afoul of local compliance requirements.

De Nederlandsche Bank approved the exchange after conducting a review of its compliance with Dutch anti-money laundering and anti-terrorism financing laws.

Crypto.com Enters Crowded Market With New Dutch License

The approval is a significant milestone for the company, as Europe’s Markets-in-Crypto-Assets bill, set to go into effect in 2024, allows service providers in one region to operate across the entire European Union.

With its Dutch license, Crypto.com can secure business in all 27 member states in the European Union when MiCA starts operating in late 2024.

However, the exchange will compete with 36 crypto companies already holding licenses from the central bank. These include Coinbase Europe, OKCoin, eToro, and BitStamp.

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Author: David Thomas

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