Cryptocurrency exchange BLOX has been granted permission to operate in the Netherlands, making it the first platform to do so since it adopted the fifth European Union Anti-Money Laundering Directive, or AMLD5.
“BLOX is the first consumer-oriented cryptocurrency company listed on the register of the Dutch central bank,” the company said in a blog post today. “This registration is mandatory in the Netherlands for every company that allows users to buy, sell, trade and hold cryptocurrencies.”
Netherlands-based crypto service provider AMDAX BV grabbed headlines in October as the first company of its kind in a new regulated area. However, AMDAX is targeting big investors. “AMDAX supports companies as well as private investors with a portfolio – starting with an investment of 2.5 bitcoins – with cryptocurrency trading, secure vaults and safekeeping,” AMDAX said in an October statement on Finextra.
Blox BV, listed as an Authorized Crypto Service Provider, announced records from De Nederlandsche Bank NV, the Dutch central bank. Cryptocurrency Anycoin Direct is also registered today.
“BLOX allows consumers to invest in their preferred digital currency for as little as 1 euro,” the company said in a statement. “Therefore, the approval of the Dutch central bank means that cryptocurrencies remain widely available to the public.”
Unlike the three recently accredited organizations, Deribit digital asset derivatives left the Netherlands in January 2020 to avoid the new rules.