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Cryptocurrency exchange BLOX has received permission to operate in the Netherlands, making it the first platform to do so since the country implemented the European Union’s Fifth Anti-Money Laundering Directive, or AMLD5.
“BLOX is the first consumer-focused cryptocurrency company to be included in the Dutch central bank register,” the company said in a blog announcement today. “This registration is mandatory in the Netherlands for any company that allows its users to buy, sell, trade and hold cryptocurrencies.”
Netherlands-based cryptographic service provider AMDAX BV made headlines in October as the inaugural company of its kind in the newly regulated region. AMDAX, however, caters to larger investors. “AMDAX supports businesses as well as private investors with a portfolio – starting with investments of 2.5 Bitcoins – cryptocurrency trading, safe deposit and safe custody,” an October statement from AMDAX said on Finextra.
Visible in a list of approved crypto service providers, Blox BV is now soliciting registration from De Nederlandsche Bank NV, the central bank of the Netherlands. Cryptocurrency exchange Anycoin Direct also registered today.
“BLOX allows consumers to invest in their favorite digital currency for as little as € 1,” explained the company’s blog post. “Therefore the approval of the Dutch central bank means that cryptocurrencies will remain widely accessible to the general public.”
Unlike the three recently approved entities, Deribit, the digital asset derivatives exchange, departed the Netherlands in January 2020 to avoid the new regulations.
