Dutch central bank to regulate cryptocurrencies

The Dutch central bank has announced that it is to begin regulating cryptocurrency services from 10 January 2020.

In a statement this morning, De Nederlandsche Bank said: “In concrete terms, firms offering services for the exchange between cryptos and regular money, and crypto wallet providers, must register with De Nederlandsche Bank.”

It added that failure to register would result in firms no longer remaining in business.

The bank said that from the start of next year, firms offering services for the exchange between virtual money and regular money, along with crypto wallets, are expected to become subject to its integrity supervision regime.

The firms are being warned to begin their preparations for regulated activities and central bank supervision “well in advance” of the implementation date.

The bank is required to supervise crypto product businesses under the fifth European Anti-Money Laundering Directive (AMLD5), which has been implemented into Dutch law.

The statement added that cryptos are vulnerable to financial crime, hence the need to establish integrity supervision now.

Regulated firms will need to demonstrate that their processes are effectively designed to prevent money laundering and terrorist financing, and that board members and other policymakers adequately manage these processes.

    Share Story:

Recent Stories


Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.

Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.

Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.

Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.