- Dutch central bank will be looking at introducing regulation to tackle money laundering.
- Companies operating within the cryptocurrency sector will need to obtain a license from the central bank.
The Netherlands are exploring regulation for companies within the cryptocurrency industry. They are keen to tackle and prevent money laundering and alleged terrorist financing. Digital currency organizations will need to gain an operating license from country’s central bank.
This will be under a new draft legislation from Nederlandsche Bank, in order to tackle and prevent digital assets, such as Bitcoin, being using for criminal related activities. A move which continue to reflect a tone seen across the global with several countries.
For companies to be granted this new license, they must report any “unusual transactions”. In addition to contact a complete a series of KYC checks. Such actions being taken, given how much easier it is for launderers to move funds across the world, due to much anonymity of crypto.
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