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Netherlands’ BLOX To Implement The European Union’s 5th Anti-Money Laundering Directive

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.

There are now three Dutch crypto exchanges registered with the country's central bank, @benjaminpirus reports. — Cointelegraph (@Cointelegraph) November 6, 2020

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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