Today, Amdax B.V., based in the financial heart of Amsterdam, has been registered by De Nederlandsche Bank (DNB) as the first provider of crypto services in the Netherlands.
This enables AMDAX to process crypto transactions and store crypto currencies. Since the May 21st, the Dutch government is applying new legislation related to crypto, based on European guideline AMLD5.
AMDAX supports business as well as private investors with a portfolio - starting with investments of 2.5 Bitcoin - the trade of crypto currencies, a secure storage and insured custody. As a result of the DNB registration, AMDAX takes a major step towards a more mature crypto domain. The registration process started on May 21st and has taken approximately four months. The European guideline AMLD5 for crypto regulation focuses on the prevention of money laundering and the terrorist financing. The Dutch authorities apply strict additional requirements, including criteria for the assessment of clients and for tracing the origin of the money they want to invest.
A mature asset class
With its DNB registration, AMDAX intends to contribute to the adoption and acceptance of crypto. “We are very proud we have obtained this registration as the first crypto company in the Netherlands,” states Valentino Cremona, co-founder and director at AMDAX. “DNB justly applies high standards for this registration. Bitcoin and other crypto currencies are often associated with crime, whereas Bitcoin is very transparent. The market needs clear legal frameworks, such as the set of requirements of DNB. This registration shows investors that crypto is a mature asset class, not for criminals, but for smart investors. Whereas a growing number of investors consider Bitcoin, as well as other crypto currencies as an interesting long-term investment, up until today they were operating on a market that was not regulated. In a time when traditional financial certainties are under pressure, we can offer clients a safe and reliable alternative. As a result of this registration, the crypto domain will also be accessible for private investors and financial institutions”.