The founder of the company sees an increasing demand from European governments to implement more regulation and supervision of cryptocurrencies. In the Netherlands for example, starting with January 10, 2019, the Dutch central bank will start regulating crypto companies.
From then on, they will have to register, undergo audits and will be subject to stricter supervision. Plus, they must follow the Know Your Customer guidelines and report any ‘suspicious transaction’ to the Financial Intelligence Unit.
So far, the company promotes the education in blockchain technology and has established subsidiaries that work closely with regulators to promote a solid regulatory framework. Furthermore, it has proposed to create a compliance company for crypto providers that would handle all the demands of the regulators.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.