Crypto.com Gets Approved in the Netherlands: Ready to Serve Dutch Customers

• Crypto.com receives registration approval from the Netherlands‘ central bank De Nederlandsche Bank (DNB).
• Binance failed to obtain a registration in the Netherlands and was later fined for operating without one.
• Crypto.com has received other regulatory approvals from countries around the world, including Spain, Italy, Australia, Cyprus, Greece and South Korea.

Crypto.com Receives Registration Approval from Dutch Central Bank

Crypto.com has revealed that it has been registered with De Nederlandsche Bank (DNB), the central bank of the Netherlands in order to provide crypto services to Dutch customers. The company had undergone a comprehensive review of its business operations and compliance with AML and anti-terrorism laws before receiving this approval.

Binance Fails to Obtain Registration

In contrast, rival crypto exchange Binance failed to obtain a registration in the Netherlands and was later slammed with a fine of $3.3 million by DNB for allegedly operating without one. Following this, Binance withdrew its licensing application with German regulators as well.

Other Regulatory Approvals Around the World

Crypto.com has also gained regulatory approvals from many other countries around the world including Spain, Italy, Australia Cyprus, Greece and South Korea recently. CEO Kris Marszalek commented on this new milestone for their business saying they look forward to continuing work with DNB and other regulators worldwide.

Suspension of Institutional Exchange Services in US

Despite these successes however, Crypto.com decided to temporarily suspend its institutional exchange services for American clients due to low demand from institutions amidst challenging market conditions in US currently .

Conclusion

Overall Crypto com’s registration approval by DNB is another testament of their commitment towards compliance while gaining recognition amongst various jurisdictions globally , however they still remain cautious when it comes to offering their services within certain markets such as US due to complex regulations .