Anycoin Direct becomes first broker to register with the Dutch Central Bank

Anycoin Direct, a digital currency platform from the Netherlands announced today that it is a registered member with the Dutch Central Bank (DNB). This is to conform with the new rules for the crypto industry from the regulatory bodies in The Netherlands.

🎉 We did it! 🎉
Since yesterday, we have been registered at Dutch central bank (DNB). We are now one of the first renowned cryptocurrency exchange services that has been registered. This is a huge step for us and the industry!
Read more in our blog:https://t.co/TsoXfV55kY

— Anycoin Direct (@AnycoinDirect) November 5, 2020

In a press release, Anycoin Direct stated that the process to receive the approval has been going on for several months. The cryptocurrency broker obtained the approval yesterday. Co-founder and Chief Technology Officer of Anycoin Direct believes that the latest development will open the door to more traditional financial investors and crypto investors.

The approval will ensure that the crypto platform operates within the European regulatory framework. Crypto platforms are to observe all crime prevention protocols and measures.

Anycoin Direct becomes the third Dutch crypto platform to receive the registration from the Dutch Central Bank, but it is the first platform that actually sells cryptocurrency. Since enforcing the crypto law on May 21 this year, crypto service providers in the Netherlands have to obey the rules and register with the Dutch Central Bank. Registered companies will have to share data with regulatory bodies when they’re asked to do so.

The first two platforms that obtained a registration from the central Dutch Central Bank were AMDAX and BLOX. Both platforms are not actually selling crypto, since there’s only euro in and out of the platform. AMDAX became the first cryptocurrency company to receive the registration. BLOX became the second company to register, followed by Anycoin Direct. Coinmerce followed as the fourth company and the second company that sells crypto.

Controversies Surrounding Crypto Regulations in the Netherlands

Many global regulatory bodies are updating their anti-money laundering policies, according to the updated provisions recommended by the Financial Action Task Force (FATF).

Recently, the Dutch parliament passed an anti-money laundering policy giving crypto firms a few months to obey the rules. Crypto platforms have to register their companies with the Dutch Central Bank. All crypto companies operating in the Netherlands have to have all the processes up and running by November 21.

Companies that fail to follow the rules are likely to stop operations in the Netherlands coupled with fines. Some smaller crypto companies stopped their operations and other exchanges stopped to offer their services in the Netherlands.

This recent move was not well received by the crypto community. Many crypto enthusiasts see this as a condition that is too harsh for crypto firms and the time is too limited. Furthermore, Dutch crypto platforms such as Deribit moved their base of operation from the Netherlands to other crypto-friendly jurisdictions.