<h2><b>Crypto Firms Must Register Till January 2020: Dutch Central Bank</b></h2>
<div dir="auto"><a href="https://financefeeds.com/dutch-regulators-urge-crypto-operators-get-ready-regulation-january-2020/">The Dutch Central Bank</a> has announced to begin regulating the firms involved in crypto-related activities till Jan 10, 2020.</div>
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<div dir="auto">On Sept 3, reportedly, De Nederlandsche Bank transparently cleared that crypto-related firms in the region must register with the institution in order to carry on the services. Also, inclusive of the firms that are serving outside the Netherlands to Dutch nationals via the internet.</div>
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<div dir="auto">An official statement from Bank released:</div>
<h5><i><b>“In concrete terms, firms offering services for the exchange between cryptos and regular money, and crypto wallet providers, must register with De Nederlandsche Bank.”</b></i></h5>
<div dir="auto"><i>“It is irrelevant whether they are established in the Netherlands,” </i>a representative of DNB stated in a Q&amp;A.<i><b>
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<div dir="auto">Furthermore, he elaborated:</div>
<h5><i><b>“Also providers that offer such services from another EU member state … for example via a website, must register, regardless of whether the provider is already registered in that member state.”</b></i></h5>
<div dir="auto">Also, Dutch ministers have requested the government of the nation to regulate cryptocurrency because of money laundering issues.</div>
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<div dir="auto">Reportedly, DNB intends to implement the fifth EU Anti-Money Laundering Directives (<a href="https://globalcompliancenews.com/eu-5th-anti-money-laundering-directive-published-20180716/">AMLD 5</a>), which will become valid on Jan 10, 2020.</div>
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<div dir="auto">The first registration time period will end in six months after January 10, 2020. The companies that are not registered before that period would be stressed to stop operations as the rules go officially valid, the DNB said.</div>
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<div dir="auto">Moreover, he outlined:</div>
<div dir="auto"><i><b>“During these six months, you must therefore already comply with the requirements of the law. If at the time the law comes into force, you have not submitted a request for registration, you must stop your service.”</b></i></div>
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<div dir="auto">Prominent shareholders and directors must be able to claim their AML capabilities to DNB.</div>
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<div dir="auto">In the Netherlands, the DNB will also take into consideration the previous activities of the companies. That inclusive of the specific function, nature, size, risk profile of the company and composition and functioning of the collectives.</div>
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<div dir="auto">Under the <a href="https://www.cryptoknowmics.com/crypto/czech-republic-to-introduce-tough-cryptocurrency-regulations-than-eu/">AMLD5</a>, member states must offer crypto regulation following the policy before Jan, 10. Clarification of what regulations must be taken into consideration or created falls to each state's discretion. The press release states.</div>
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<div dir="auto">Purportedly, at the beginning of spring, the Dutch Financial Criminal Investigative Service banned coin mixer Bestmixer.io, grabbing various servers in the Netherlands and Luxembourg.</div>

Crypto Firms Must Register Till January 2020: Dutch Central Bank Says

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