Netherlands Financial Authorities Call For Crypto Exchange Licensing System

News, Regulation | January 22, 2019 By:

The Netherlands Authority for the Financial Markets (AMF) and De Nederlandsche Bank (DNB), the country’s central bank, have called for a licensing system for crypto services in order to tackle money laundering and terrorist financing.

In a joint statement, the central bank and financial services regulator said that the licensing system would force crypto wallet providers and exchanges to closely monitor their users’ transactions and report any suspicious activity to the appropriate authorities.

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Blockchain Not Sufficiently Efficient, Says Dutch Central Bank

Blockchain, News | June 8, 2018 By:

De Nederlandsche Bank (DNB), the central bank of the Netherlands, said that blockchain technology is not ready to meet the demands of large financial market infrastructures (FMI).

After three years of experimenting with distributed ledger technology (DLT), the central bank came to the conclusion that the technology’s current algorithms are unable to handle the volume of transactions of financial market infrastructures in a 100%-secure and energy-efficient way.

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