The central bank of the Netherlands, De Nederlandsche Bank NV (DNB), has granted AMDAX BV the ability to operate under its jurisdiction.
This marks the first time a digital asset company has been approved in the country following the introduction of strict new regulations that saw many crypto related businesses close or leave the Netherlands.
Receiving official registration from the governing body means AMDAX BV, an Amsterdam-based digital asset service company, can now give Dutch residents access to its offerings according to an Oct. 7 brief from Finextra.
The company told Cointelegraph in a statement:
“AMDAX B.V. has been registered by De Nederlandsche Bank (DNB) as the first provider of crypto services in the Netherlands. This enables AMDAX to process crypto transactions and store crypto currencies.”
Fintech firms in the Netherlands must abide by European Union regulations, which have tightened significantly over the last few years, including its updated anti-money laundering laws, known as the 5th Anti-Money Laundering