‘Ridiculous’ Registration Fees Force Dutch Bitcoin Exchange out of Business
Cryptonews
Exchanges
4 years ago
1 QCP
A Dutch Bitcoin (BTC) exchange has become one of the first casualties of a new regulatory procedure that requires many of the nation’s crypto-related companies to register with the central bank or close down.
The central bank, the De Nederlandsche Bank (DNB), has set a May 18 deadline for registration after the nation’s parliament voted in favor of adopting the EU’s anti-money laundering guidelines, as outlined by the Financial Action Task Force (FATF).
The long-running exchange, BitKassa, says that it will shut down on May 17, a day before the registration deadline. It also issued a scathing statement, decrying the government’s decision to impose “approximately USD 27,000 ([USD 5,400] registration fee plus almost [USD 21,600] in basic costs)” fees on all companies in 2020, “regardless of size.”
The FATF has stated that government financial regulators should enforce a compulsory registration system, not unlike that used in Japan, where over two dozen exchanges have registered with the regulator.
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https://cryptonews.com/news/ridiculous-registration-fees-force-dutch-bitcoin-exchange-o-6481.htm
The central bank, the De Nederlandsche Bank (DNB), has set a May 18 deadline for registration after the nation’s parliament voted in favor of adopting the EU’s anti-money laundering guidelines, as outlined by the Financial Action Task Force (FATF).
The long-running exchange, BitKassa, says that it will shut down on May 17, a day before the registration deadline. It also issued a scathing statement, decrying the government’s decision to impose “approximately USD 27,000 ([USD 5,400] registration fee plus almost [USD 21,600] in basic costs)” fees on all companies in 2020, “regardless of size.”
The FATF has stated that government financial regulators should enforce a compulsory registration system, not unlike that used in Japan, where over two dozen exchanges have registered with the regulator.
...
https://cryptonews.com/news/ridiculous-registration-fees-force-dutch-bitcoin-exchange-o-6481.htm
- Bitcoin exchange
- Money laundering
- Central bank
- Fees
- Bitcoin
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