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Central Bank Of Netherland Introduces A Mandatory License For Crypto Service Providers.

In line with a recent news ‘report‘ by ‘DeTelegraaf,’crypto service suppliers will now require to get a license from the Central Bank of Netherland.

The article explains that the new necessity has been implemented hoping that it’ll “prevent the further use of cryptocurrencies being employed for illicit activities such as money laundering, criminal activities and terrorists fundings.

To qualify for a license, suppliers should reportedly ought to know their customers and report any uncommon transactions, if found. All of this information would be further monitored by ‘De Nederlandsche Bank’, the central bank of Dutch 

After the implementation of similar laws in Japan, earlier in April this year, obliging cryptocurrency exchanges reported dubious cryptocurrency transactions, a notable increase in the no. of such reports, this winter.

Even in Aug., an official at Dutch central bank ‘stated‘ that cryptocurrencies aren’t recognized as ‘real cash,’ but the bank has no plans to ban them. Conjointly in Aug., an adviser to the central bank ‘claimed‘ that Bitcoin’s [BTC] value changes coincide with Google searches for the cryptocurrency.

According to a report published in Oct., the Port of Rotterdam revealed its partnership with the Dutch bank and Samsung to check blockchain use for shipping in Europe’s largest port along with-in Holland, the country’s largest supermarket chain, Albert Heijn, disclosed in Sept. that it’s employing blockchain in the production of its orange fruit juice.

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