Bitvavo successfully registered with the Dutch Central Bank (DNB)

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Last Updated on 6 November 2023 by CryptoTips.eu

Bitvavo, a cryptocurrency exchange based in the Netherlands, has officially registered as a digital asset exchange with the Dutch Central Bank (DNB). The crypto exchange obtained the registration on the 11th of November 2020.

All crypto companies operating from and in The Netherlands need to obtain a registration from the Dutch Central Bank as a provider of digital asset services and wallets. The Dutch Central Bank only supervises Bitvavo’s compliance with the Money Laundering and Terrorist Financing (Prevention) Act and the 1977 Sanctions Act.

Bitvavo is the leading cryptocurrency exchange and broker in the Netherlands with an asset portfolio of over 50 digital assets. With 100.000+ clients in Europe, € 300+ million of volume in the past 30 days and € 3 billion of volume this year, it is one of the leading digital asset exchanges in Europe. Bitvavo is very popular among investors since they have very low fees (0.25% per transaction), a wide variety of European payment methods, an easy broker user interface and an advanced exchange.

Bitvavo became the next crypto company to receive an approval from the Dutch Central Bank. Other platforms that are already approved are Anycoin Direct, Litebit, Coinmerce, AMDAX and BLOX. As part of the regulations introduced in the Netherlands on May 21, 2020, providers of services for exchanging digital assets and non-cash money and providers of custodian digital asset wallets have to register with the Dutch Central Bank to obtain an approval that allows them to continue offering those services.

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What Does this Registration Mean for Bitvavo?

Bitvavo is seen as a market leader in the Netherlands. The exchange has to register to continue leading as a crypto service provider in the Netherlands. Registering with the Dutch Central Bank will also lead to an increased interest from Dutch citizens as people will be forced to move if their current service provider fails to register under the Central Bank.

Bitvavo expects to complete the registration proces in other European countries in the near future to dominate the whole market.

Bitvavo has always strived to comply with all relevant laws and regulations. That is why they were prepared for the upcoming legislation and regulations and its services were already geared to this, which simplified the process of obtaining the registration.

However, users of Bitvavo will feel no difference as they continue using the services provided by Bitvavo. The crypto exchange continues to be at the forefront of crypto service providers in the Netherlands.