The BLOX crypto exchange has been given the green light to operate in the Netherlands, making it the first consumer-oriented platform to receive clearance in that country following the country’s implementation of the European Union’s Fifth Money Laundering Directive (AMLD5).
„BLOX is the first crypto-company tailored for retail investors to be entered in the register of the Dutch Central Bank“, the trading platform announced in a blog entry published today. It goes on to say: „This registration is mandatory in the Netherlands for any company that wants to enable its users to buy, sell, trade and hold crypto-currencies“.
The Dutch-based crypto service provider AMDAX BV was the first company to make the headlines in October of this year to receive the relevant approval, but the AMDAX is aimed primarily at large investors. „The AMDAX offers investments from 2.5 Bitcoin upwards for companies and private investors who have a portfolio“, as it had written in its October announcement. 2.5 BTCs have a current equivalent value of almost 30,000 US dollars.
A list of approved crypto service providers by De Nederlandsche Bank NV, the central bank of the Netherlands, includes Blox BV and Anycoin Direct, which has also received its approval.
„BLOX enables small investors to invest in digital currencies from as little as 1 euro“, as the crypto exchange explains in its blog entry. It concludes: „With its approval, the Dutch central bank has thus made crypto-currencies available to the general public.
Meanwhile, Deribit, a trading platform for crypto-derivatives, had fled the Netherlands in January 2020 to avoid having to comply with the stricter requirements of the new money laundering directive.