Amdax BV, based in the heart of the Dutch financial world and based in Amsterdam, has received the green light and is officially registered by De Nederlandsche Bank (DNB) as the first provider of cryptocurrency services in the Netherlands.
Registration will enable AMDAX to process crypto transactions and store cryptocurrencies.
The Dutch government is a bit optimistic about cryptocurrencies and has been applying new laws regarding cryptocurrencies based on the European AMLD5 directive since May 21, 2020.
From 2.5 BTC onwards, AMDAX supports private and professional traders and companies with a portfolio for trading cryptocurrencies, safe custody and insured custody – and brings more credibility and security to the emerging market.
The AMDAX registration process, which started on May 21, lasted four months. The European directive AMLD5 on crypto regulation focuses on the prevention of money laundering and terrorist financing and the Dutch have packed stricter, additional requirements, including criteria for evaluating customers and for tracing the origin of the money they want to invest.
A mature asset class With its DNB registration, AMDAX wants to contribute to the introduction and acceptance of crypto.
“We are very proud to have received this registration as the first crypto company in the Netherlands,” said Valentino Cremona, co-founder and director of AMDAX.
“DNB rightly applies high standards to this registration. Bitcoin and other cryptocurrencies are often associated with crime, while Bitcoin is very transparent. The market needs a clear legal framework, such as the DNB’s package of requirements. This registration shows investors that crypto is a mature asset class, not for criminals but for smart investors. While a growing number of investors see Bitcoin and other cryptocurrencies as interesting long-term investments, they have been operating in an unregulated market to this day. At a time when traditional financial certainties are coming under pressure, we can offer our customers a safe and reliable alternative. With this registration, the crypto domain will also be accessible to private investors and financial institutions. “
AMDAX BV is the first provider of crypto services in the Netherlands to be registered with De Nederlandsche Bank NV (DNB) (number R166879).