On April 21, the law was passed that regulates that providers of crypto services fall under the integrity supervision of De Nederlandsche Bank . The new legislation is expected to take effect May 18.
DNB is calling on crypto service providers to apply for registration with DNB before that date. The new registration obligation follows from the Implementation Act Amending the Fourth Anti-Money Laundering Directive. Besides the registration obligation, it follows from this law that crypto service providers must comply with the Money Laundering and Terrorist Financing Act (Wwft) and the Sanctions Act 1977.
The Finance Ministry aims to have the law take effect May 18. Provision has been made for a transitional arrangement. Only providers who applied for registration with DNB before May 18 are eligible for this transitional arrangement. If a registration is applied for too late, the transitional arrangement does not apply and services must be discontinued.
This news item can also be found in the Accountability file
