Dutch Bitcoin Companies Face Millions in “Unusual” AML Fees
Crypto Briefing
Adoption
4 years ago
1 QCP
Holland's Ministry of Finance has asked the Central Bank to help monitor the activity of the country's crypto industry. Not only is this supervision excessive, it's also very expensive.
Key Takeaways
-The AMLD5 has ushered in a new era of compliance in Europe.
-Already costly, the Dutch Ministry of Finance is attempting to tack on additional fees for crypto companies.
-These fees amount to more than credit card and trust companies. They could also kill many Bitcoin businesses in the country.
As each member of the European Union turns the fifth anti-money laundering directive (AMLD5) into law, some member states are going above and beyond what has been recommended. In Holland, for instance, the Ministry of Finance has added a series of abnormal and costly amendments for Dutch Bitcoin companies.
If passed, it could wipe out crypto innovation in the Netherlands.
...
https://cryptobriefing.com/dutch-bitcoin-companies-face-millions-unusual-fees/
Key Takeaways
-The AMLD5 has ushered in a new era of compliance in Europe.
-Already costly, the Dutch Ministry of Finance is attempting to tack on additional fees for crypto companies.
-These fees amount to more than credit card and trust companies. They could also kill many Bitcoin businesses in the country.
As each member of the European Union turns the fifth anti-money laundering directive (AMLD5) into law, some member states are going above and beyond what has been recommended. In Holland, for instance, the Ministry of Finance has added a series of abnormal and costly amendments for Dutch Bitcoin companies.
If passed, it could wipe out crypto innovation in the Netherlands.
...
https://cryptobriefing.com/dutch-bitcoin-companies-face-millions-unusual-fees/
- Crypto company
- Holland
- AML fees
- Finance
- Central bank
Confirm Delete
Are you sure, you want to delete the Comment ?