Netherlands' BLOX To Implement The European Union's 5th Anti-Money Laundering Directive
Netherlands’ BLOX To Implement The European Union’s 5th Anti-Money Laundering Directive
November 9, 2020
Netherlands' BLOX To Implement The European Union's 5th Anti-Money Laundering Directive
Netherlands’ BLOX To Implement The European Union’s 5th Anti-Money Laundering Directive
November 9, 2020

BLOX, the cryptocurrency exchange of Netherlands, has implemented the European Union‘s 5th Anti-Money Laundering Directive (AMLD5).

The company said:

“BLOX is the first consumer-focused cryptocurrency company that will be included in the registry of the Dutch Central Bank. This registration is mandatory in the Netherlands for every company that allows its users to buy, sell, trade and hold cryptocurrencies.”  

It has been reported that Netherlands-based crypto services provider AMDAX BV made headlines in October as the inaugural company of its kind in the newly regulated region.

AMDAX on Finextra stated:

“AMDAX supports business as well as private investors with a portfolio – starting with investments of 2.5 Bitcoin – the trade of crypto currencies, a secure storage and insured custody,”

However, Blox BV now touts registration from De Nederlandsche Bank NV, the central bank of the Netherlands.

Thus, the company’s blog post explained:

“BLOX allows consumers to invest in their favourite digital currency for as little as €1. Therefore the approval of the Dutch Central Bank means that cryptocurrencies will remain widely accessible to the general public.”

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.