Editor's Picks News

The Netherlands will introduce a licensing cryptomery, to reduce the anonymity

The Netherlands study the issue of licensing of companies and organization working with cryptocurrencies. This is directly licensing will deal with the Central Bank (DNB), and the initiative aims to prevent (or significantly reduce) the use of cryptocurrencies for money laundering obtained by criminal means and financing of terrorism.

As writes the largest daily newspaper in the Netherlands De Telegraaf,

Due to licensing, is significantly reduced anonymous cryptocurrency, as companies will be obliged to observe the rules of KYC (know your customer — rule, according to which it is necessary to identify and establish the identity of the counterparty before conducting a financial transaction) and AML (anti money laundering), as well as to inform the controller about all suspicious transactions.

Currently the bill is under public discussion, and the regulator is seeking comments to him.


Related posts

The Silvergate Fallout – What’s Happening to the Crypto Market?

Afroz Ahmad

Japanese Lawmaker Challenges Crypto Taxes


Shiba Inu shocks the market yet again, goes up by almost 50%

Afroz Ahmad