DNB on transactions with non-EU registered crypto service providers
October 17, 2022
On 6 October 2022, the Dutch Central Bank (De Nederlandsche Bank, DNB) published a news item in which the regulator comments on transactions taking place between crypto service providers registered in the Netherlands and crypto service providers based outside of the EU which are not registered (non-EU crypto service providers). DNB indicates that when a crypto service provider registered in the Netherlands enters into such a transaction, for example when buying/selling cryptos from/to non-EU crypto service providers as part of its own inventory management, is exposed to an integrity risk because these non-EU parties may not be acting in compliance with European anti-money laundering rules.