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Crypto.com, a major player in the cryptocurrency sector, has recently secured registration with De Nederlandsche Bank (DNB), the central bank of the Netherlands. This noteworthy approval comes only a month after competitor Binance failed to acquire similar recognition and was subsequently forced to exit the Dutch market. 
Crypto.com’s successful registration is the outcome of an exhaustive review of its business operations and compliance. The examination was in alignment with the stringent regulations set out in the Netherlands’ Money Laundering and Terrorist Financing (Prevention) Act. 
CEO Kris Marszalek expressed his company’s commitment to working with regulatory bodies to responsibly advance the crypto and blockchain industry. “This registration approval from De Nederlandsche Bank is a significant milestone for our business and the latest testament to our commitment to compliance,” Marszalek stated. 
Crypto.com’s parent company, Foris DAX Global Limited, will be listed in DNB’s public register as a certified crypto service provider. The announcement comes in the wake of Crypto.com gaining regulatory approval in several other jurisdictions, including Singapore—where it is headquartered—France, Italy, the U.K., Dubai, and Australia. 
Crypto.com joins the ranks of other major crypto firms to secure registration in the Netherlands. The likes of Coinbase Europe, Bitstamp Europe, and Hidden Road Partners also feature on the public register, emphasizing the Dutch market’s importance in the global cryptocurrency landscape. 
Binance’s recent exit from the Netherlands sheds light on the stringent regulatory environment in the country. The DNB refuses a crypto applicant if they fail to submit all the required information correctly. Registration can also be denied if policymakers or co-policymakers are deemed unfit or improper. 
Despite Binance’s departure, the company expressed its intention to maintain an open dialogue with Dutch regulators. As crypto firms worldwide vie for regulatory approval, it’s clear that the path to global adoption and recognition of digital currencies remains full of challenges and opportunities alike. For Crypto.com, the Dutch approval underscores its global regulatory acceptance and commitment to comprehensive compliance.

Crypto.com gains Dutch Central Bank approval amid Binance’s exit

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