The cryptocurrency exchange Crypto.com has successfully received registration approval from De Nederlandsche Bank (DNB), the central bank of the Netherlands. This approval will allow Crypto.com to operate as a virtual assets service provider within the country.

This approval came after a detailed assessment of Crypto.com’s business operations and compliance procedures, in line with the Netherlands’ Money Laundering and Terrorist Financing Act, as stated in a company announcement.

So far, the Dutch central bank has registered 36 crypto businesses, including BitPay, Bitstamp, and Coinbase’s European division. With this approval, Crypto.com is now authorized to offer exchange services from fiat to virtual assets such as Bitcoin (BTC) and Ether (ETH), and to provide customers with a crypto custodial wallet, as stated by the central bank.

Kris Marszalek, the CEO of Crypto.com, emphasized the importance of partnering with regulators to responsibly advance in the industry. He stated, “This registration approval from De Nederlandsche Bank is a significant milestone for our business and the latest testament to our commitment to compliance.”

Crypto.com has secured licenses from multiple jurisdictions worldwide, including a Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore, registration as a crypto-asset business from the UK’s Financial Conduct Authority (FCA), and from authorities in Dubai, South Korea, Australia, the USA, among others.

In contrast, some major crypto platforms are withdrawing from the Netherlands. Binance, the world’s largest crypto exchange, announced last month its decision to exit the Netherlands after its application to register under the Dutch crypto approval regime was rejected. The exchange stated that starting from July 17, Dutch residents would only be able to withdraw their assets from the platform, with no further trading or deposits being possible.

It’s worth noting that the Netherlands does not have specific legislation concerning crypto assets, other than the Dutch implementation of the Fifth Anti-Money Laundering Directive (5MLD) in the Dutch Money Laundering and Anti-Terrorist Financing Act (Wwft).