Share this article
Sign Up
- Back to menuCryptocurrencies
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars
Crypto.com Trumps Binance, Securing Netherlands Registration as Larger Rival Withdraws
The Netherlands, which has taken a tough line on rivals such as Binance and Coinbase, follows France, Dubai and the U.K. in recognizing the crypto exchange.
Crypto.com has been officially registered as a crypto service provider by the Dutch central bank (DNB), the latest in a series of regulatory recognitions hailed by the company.
The Netherlands has previously taken a tough line on companies including Binance and Coinbase – but has now joined jurisdictions including the U.K., Dubai and France in recognizing the company, under its formal name of Foris DAX Global Ltd.
STORY CONTINUES BELOW
“This registration approval from De Nederlandsche Bank is a significant milestone for our business and the latest testament to our commitment to compliance,” said Kris Marszalek, CEO of Crypto.com in a statement. “We look forward to continuing to work with DNB and other regulators around the world.”
DNB has previously fined companies including Binance and Coinbase millions of euros, alleging they served Dutch customers without registering, a legal procedure that acknowledges compliance with anti-money laundering and sanctions norms. Binance recently announced it’s quitting the country after failing to get recognized.
Under new European Union laws set to take effect in 2024, exchanges and wallet providers licensed in one EU country such as the Netherlands – a more demanding process than registration that involves checks on governance and financial health – will be able to operate across the 27-nation bloc. The registration had not appeared on DNB’s public listing at the time of publication but was confirmed to CoinDesk by a central bank spokesperson.
Jack Schickler
Jack Schickler was a CoinDesk reporter focused on crypto regulations, based in Brussels, Belgium. He previously wrote about financial regulation for news site MLex, before which he was a speechwriter and policy analyst at the European Commission and the U.K. Treasury. He doesn’t own any crypto.
More For You
Crypto Industry Asks President Trump to Stop JPMorgan’s 'Punitive Tax' on Data Access
A coalition of fintech and crypto trade groups is urging the White House to defend open banking and stop JPMorgan from charging fees to access customer data.
What to know:
- Ten major fintech and crypto trade associations have urged President Trump to stop big banks from imposing fees that could hinder innovation and competition.
- JPMorgan's plan to charge for access to consumer banking data may debank millions and threaten the adoption of stablecoins and self-custody wallets.
- The CFPB's open banking rule, which mandates free consumer access to bank data, is under threat as banks have sued to block it, and the CFPB has requested its vacatur.
Top Stories
