Cryptocurrency News

BLOX exchange Implements AMLD5 Regulations – Netherland.

Cryptocurrency exchange BLOX received the go-ahead to work within the Netherlands, making it the primary platform to do so since the country implemented the EU’s 5th AMLD Directive or AMLD5.

“BLOX is among the primary user-focused cryptocurrency firm that will be included within the registry of the Dutch Central Bank,” the firm added within an official announcement today. “This registration is mandatory within the Netherlands for each company that permits its users to purchase, sell, trade, and hold crypto assets.”

Netherlands-based cryptocurrency services provider AMDAX BV made headlines earlier in October as the inaugural company of its kind within the newly regulated region. AMDAX, however, markets to larger investors. “AMDAX supports business as well as private investors with a portfolio – starting with investments of 2.5 Bitcoin – the trade of cryptocurrencies, a secure storage and insured custody,” added an October statement from AMDAX on Finextra.

Visible on an inventory of approved cryptocurrency service providers, Blox BV now touts registration from De Nederlandsche Bank NV, the Central Bank of Netherlands. Cryptocurrency exchange Anycoin Direct also registered today.

“BLOX permits users to take a position in their favorite virtual currency for as little as €1,” the firm’s blog post added. “Therefore the approval of the Dutch Central Bank means cryptocurrencies will remain widely accessible to the overall public.”

Additionally to the three recently-approved entities, virtual asset derivatives exchange Deribit departed from the Netherlands back in January 2020 to avoid the new regulations.

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