MiCAR will have an impact on all European countries. In our latest update, we have added the Dutch view.
The Netherlands has transposed the fifth Anti-Money Laundering Directive (AMLD5) into the Dutch AML Act (Wet ter voorkoming van witwassen en financieren van terrorisme) and included the obligation for crypto service providers to request registration with the Dutch Central Bank (“DNB”).
Dutch crypto service providers face stricter registration from the regulator, unlike regulators in other European countries.
Currently, a license under the current registration cannot be ‘passported’ to other EU countries.
MiCAR offers a licence for Dutch crypto service providers to connect in a larger market.
THE FULL ROAD TO MICAR IS AVAILABLE HERE
For further information, please contact:
Dr. Michael Jünemann, Partner, Bird & Bird
michael.juenemann@twobirds.com
