Dutch regulators propose a license regime for crypto exchanges

[mlawson71]

The Dutch central bank – the De Nederlandsche Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM) have jointly proposed licensing requirements for all crypto exchanges operating on Dutch soil.

The proposal follows a request by the Dutch finance ministry, which asked AMF and DNB to develop steps to regulate the crypto market in an attempt to combat money laundering practices and the financing of terrorist activities.

The regulations will require all crypto exchanges and e-wallet providers to monitor, collect, and store customers’ transactions data on their platform and to report any suspicious activity to the authorities.

 

[bone]

The Dutch central bank – the De Nederlandsche Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM) have jointly proposed licensing requirements for all crypto exchanges operating on Dutch soil.

The proposal follows a request by the Dutch finance ministry, which asked AMF and DNB to develop steps to regulate the crypto market in an attempt to combat money laundering practices and the financing of terrorist activities.

The regulations will require all crypto exchanges and e-wallet providers to monitor, collect, and store customers’ transactions data on their platform and to report any suspicious activity to the authorities.

How about financially insuring customer equity? (making trading participants whole in the event of third party outside theft during the performance of transactions on the trading exchange)

 

[Trader Curt]

That's on Dutch soil. And that's also considering the fact that some exchanges like Binance have multiple servers in different countries. Yeah, they're not getting anywhere with that law.

 

[bone]

That's on Dutch soil. And that's also considering the fact that some exchanges like Binance have multiple servers in different countries. Yeah, they're not getting anywhere with that law.

That is a very good point.