Located in the heart of the Dutch financial world, Amsterdam Amdax BV has received the green light and has been officially registered by De Nederlandsche Bank (DNB) as the first provider of cryptocurrency services in the Netherlands.
Registration allows AMDAX to process encryption transactions and store encryption currencies.
The Dutch government has been somewhat bullish on cryptocurrencies and since 21 May 2020 it will apply new cryptocurrency legislation based on European guidelines. AMLD5.
Starting at 2.5 BTC, AMDAX supports retail and professional retailers as well as companies with a portfolio to provide forex trading, safe deposit and insured custody – increasing credibility and security in emerging markets.
The AMDAX registration process began on May 21 and lasted four months. The European guideline on encryption regulations AMLD5 focuses on the prevention of money laundering and terrorist financing, and the Dutch have set stricter additional requirements, including criteria for assessing customers and tracing the origin of the money invested.
A mature asset class with DNDA registration AMDAX intends to contribute to the adoption and adoption of encryption.
“We are very proud to have received this registration as the first cryptographic company in the Netherlands,” said Valentino Cremona, Founder and CEO of AMDAX.
“DNB rightly applies high standards in this registration. Bitcoin and other cryptocurrencies are often associated with crime, while Bitcoin is very transparent. The market needs clear legal frameworks, such as DNB requirements. This registration shows investors that encryption is a mature asset class, not for criminals but for smart investors. More and more investors consider Bitcoin and other cryptocurrencies to be interesting long-term investments until they operate in a market that is not regulated to this day. At a time when traditional financial security is under pressure, we can provide customers with a safe and reliable alternative. As a result of this registration, the cryptographic domain name will also be available to private investors and financial institutions.
AMDAX BV is the first cryptographic service provider in the Netherlands to be registered (number R166879) with De Nederlandsche Bank NV (DNB).