Holland will regulate cryptocompany to reduce cryptocurrency anonymity

Holland wants to introduce licensing for cryptocurrency companies, which will be controlled by the country's central bank (DNB), reports De Telegraaf.

According to the publication, this measure should help prevent the use of virtual currencies for money laundering or terrorist financing. In addition, licensing should, if not eliminate, then significantly reduce the anonymous use of cryptocurrencies. Recipients of Central Bank approval will need to know their customers (KYC rules) and report suspicious transactions.

Currently, the bill is under public discussion, and the regulator is collecting comments on it.

The financial leaders of the leading economies of the world (G-20 group) first discussed the topic of cryptocurrency regulation in March this year at a summit in Argentina. As a result of the meeting, the consideration of the relevant rules for this area was initiated by the Financial Action Task Force on Money Laundering (FATF).

In the summer, FATF announced that it would begin developing mandatory rules for cryptobirth . In October, the Group clarified that they will be installing next year. However, the FATF is already paying attention to the control of the cryptocurrency market in various countries, particularly in the UK .

Rosfinmonitoring has declared that it is introducing control over the cryptosphere according to the requirements of the FATF. Following the recent G-20 meeting, it was confirmed that the global regulation of cryptocurrencies will be based on the standards of the Financial Action Task Force on Money Laundering.