Registration process: update

News
Datum 21 oktober 2020

The registration process for crypto service providers was launched on 21 May 2020. It is good to see that crypto service providers are working hard to comply with the new law and regulations. If your application for registration is not yet complete, we urge you to take the necessary action.

Gedrag van morgen

The first application has been granted and entered in the register. Other parties are expected to follow shortly. Crypto service providers that were already active before 21 May 2020 and that have submitted an application for registration may continue their activities without registration until 21 November 2020 or until a decision on the application has been taken, whichever is sooner. Not all applications submitted so far met the registration requirements immediately upon submission. Please note that if your application is not yet complete, there is a reasonable chance that the registration cannot be issued before 21 November 2020. In that case, you will have to cease your activities until you have been registered. The sooner you submit the requested amended or additional data, the sooner we will be able to issue our decision.

Number of applications

Some 48 application for registration were submitted on 21 May, and 5 more after that date. A number of applicants have since terminated the process for various reasons. For example, because they decided to submit an application at another time, because they found the preparation time to be too short, or in connection with a restructuring of their business. A small number of sole proprietor applicants terminated the process because they found the costs for registration to be too high. On balance, we are currently processing 38 applications. We also expect some new applications to follow from parties wishing to take up activities in the Netherlands.