Crypto.com, a major player in the cryptocurrency market with over 80 million users globally, declared today that it had gained formal registration from De Nederlandsche Bank (DNB) as an enterprise delivering crypto services. The acknowledgment of Crypto.com is the result of an extensive evaluation of its practices and compliance with Dutch legislation on money laundering and terrorism financing avoidance (Wwft).
Crypto.com was created in 2016 and has since become a dependable part of the cryptocurrency world, achieving great success with compliance with regulations, security protocols, and user privacy. The mission of the company is to ensure that “every wallet contains cryptocurrency,” and it strives to trigger wider adoption of cryptocurrency through innovation, enabling a fairer digital environment for upcoming generations who will be inventors, innovators, or entrepreneurs.
Kris Marszalek, Crypto.com’s CEO, highlighted the importance of working with regulators to progress responsibly in the blockchain and crypto industry. He was proud that his company had obtained authorization from De Nederlandsche Bank, which he acknowledged as a major achievement for them and also confirmed their loyalty towards following regulations. Marszalek went on to confirm once again Crypto.com’s dedication to collaborating with DNB and other regulatory bodies all over the globe.
Crypto.com is furthering its dedication to adhering to international standardization of regulations by attaining fresh approval. This appointment adds to their list of regulatory qualifications, which includes acquiring an MPI license for (DPT) Digital Payment Token, plus the capability to produce e-money and create accounts, in addition to providing both domestic and international money transfer services from the Monetary Authority of Singapore. Several financial authorities have recognized Crypto.com, including the AFR in France, which granted them registration as Digital Asset Service Providers (DASPs), the UK Financial Conduct Authority’s approval for their crypto asset business, and the Bank of Spain registering them as Virtual Asset Service Providers (VASPs).
The Dutch Central Bank (DNB) has officially registered Foris DAX Global, which is a crypto service provider that is part of Crypto.com’s network, in its public register. DNB will be monitoring the company to ensure it follows the AML and ATFA as well as the Sanctions Act (Sanctiewet 1977 – Sw). Although DNB does not provide prudential supervision or conduct supervision by the AFM (Authority for the Financial Markets), this registration is an important step for Crypto.com to offer its services within the Netherlands.
As per our Crypto.com review, the company has achieved a significant milestone by securing registration approval as a trusted crypto service provider in the Netherlands, further solidifying its position in the global market. As the cryptocurrency sector grows and develops, regulatory compliance is increasingly becoming an essential concern for those involved in it. Crypto.com’s dedication to adhering to applicable regulations within numerous jurisdictions highlights its goal of creating a trustworthy and secure platform for individuals worldwide.
De Nederlandsche Bank’s endorsement further cements Crypto.com’s reputation as a front-runner in the crypto industry and reflects the company’s proactive attitude to following regulations. With the backing of official permissions, Crypto.com can continue advancing cryptocurrency usage and constructing the digital asset environment going forward.
Credit: Source link
