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Anyone active in the Netherlands as a crypto broker or provider of custodial wallets is required to register with De Nederlandsche Bank (DNB). Without this registration, storing or exchanging cryptocurrencies is prohibited and punishable. The registration serves to ensure compliance with anti-money laundering rules; the process is complex, requires a great deal of information, and entails substantial costs, without any guarantee of success.
Many crypto companies are active in the Netherlands — logical in a growth market, but also a market with risks, because cryptocurrencies are also used by criminals. Therefore, strict rules apply, and registration with the DNB is sometimes mandatory.
Mandatory registration for some crypto companies
The registration requirement applies to Dutch and foreign crypto brokers active on the Dutch market, and to providers of custodial wallets. Without registration, storing or exchanging cryptocurrencies is not permitted and is even punishable under the Economic Offences Act.
The reason: cryptocurrencies are often used to launder money or finance terrorism. Therefore, these companies are supervised by the DNB, which checks whether they comply with anti-money laundering legislation — such as monitoring transactions and verifying customer identities.
Provide a lot of information
Registration is a complex process requiring you to provide a great deal of information: not only general company information (articles of association, Chamber of Commerce extract), but also business plans, SWOT analyses, a description of business operations, and activity overviews. Additionally, an overview of the entire board, including the governance and organizational structure, with a file for each director demonstrating reliability and suitability. Finally, detailed information regarding business operations: how you comply with regulations, the reporting procedures you employ, and how audits are conducted.
High costs, no warranty
The DNB only assesses an application on its merits if it is of high quality and complete; if this is the case, registration follows within two months, provided you meet all requirements. The application cost €5,000 (in the original article). If a new director joins later or their duties change, you must report this and request a new assessment — a suitability assessment and a reliability assessment each have their own fee.
Frequently Asked Questions
Do I need to register my crypto company with the DNB?
If you are active on the Dutch market as a (foreign) crypto broker or offer custodial wallets, then in principle yes. Without registration, storing or exchanging crypto is prohibited and punishable. Check the current requirements.
Why is registration mandatory?
To ensure compliance with anti-money laundering rules. The DNB supervises transaction monitoring and identity verification because crypto is being misused for money laundering and terrorist financing.
How much does registration cost?
There are substantial costs associated with the application and subsequent director assessments. The exact rates are subject to change; consult the current amounts at the DNB.
Legal advice for crypto companies
The application process is complex, and crypto regulations are changing. The legal experts at MKB Juristen guide you through the registration and the required documents. View our expertise in corporate law or schedule an intake meeting .
