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Dutch authorities call for crypto exchange licensing regime

Dutch authorities call for crypto exchange licensing regime

The Dutch central bank and financial services regulator say that the country must introduce a licensing regime for crypto exchanges and wallet providers in order to tackle money laundering and terrorist financing.

In a joint statement, De Nederlandsche Bank (DNB) and the Authority for the Financial Markets (AFM) also call for the European regulatory framework for corporate funding to be amended to enable the use of cryptos that are comparable to shares or bonds.

This, they say, would mean that blockchain technology could be used to open opportunities for the funding of small-scale business activities by ensuring that the cryptos represent clear and enforceable rights.

Finally, the pair say that the cross-border nature of cryptos means that national regulations aimed at consumer protection can only be effective if they are coordinated at an international level.

Earlier this month, the European Banking Authority called on the EU to look into whether there should be a block-wide regulatory approach to crypto-assets.

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