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DNB approved first company to deal with bitcoin banking



AMDAX is the first company with a DNB registration to hope that coins will be more widely accepted as a reliable investment



07.Oct.20 11:18 AM
By Abigail Richards
Photo toinnov.com

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DNB approved first company to deal with bitcoin banking
De Nederlandsche Bank (DNB) has for the first time entered a company in its special register for service providers in crypto currency. AMDAX, which helps customers deal in cryptos like the bitcoin, is currently the only one on the list of approved cryptocurrencies operators.

Registration with DNB has been mandatory since May for all companies that provide services in the Netherlands for exchanging or storing bitcoins and other crypto coins. The main purpose of this supervision is to prevent money laundering through virtual coins. In order to register with the DNB, companies have to indicate, among other things, where their customers got the money they deposit (KYC).

AMDAX is the first company with a DNB registration to hope that coins will be more widely accepted as a reliable investment. The company points out that investors interested in bitcoins had previously had to resort to unregulated markets.

"Bitcoin and other crypto currencies are often wrongly associated with crime, whereas bitcoin is very transparent. The market therefore needs legal frameworks such as DNB", says Lucas Wensing from AMDAX.



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