Supervisory authority De Nederlandsche Bank (DNB) is submitting a new anti-money laundering approach to financial institutions and other stakeholders as part of a public consultation. In a policy document presented today [...]Read more
Registration – success factors
Published: 12 July 2023
Anyone applying for registration as a crypto service provider will want the procedure to be successful and as fast as possible. DNB does everything in its power to ensure a smooth and straightforward registration procedure.
You can positively influence the process yourself. We have listed four recommendations below. We have looked at past applications that were smoothly processed in order to identify success factors. Obviously, complete and correct applications will be more successful. These are the success factors for a smooth application for registration.
It helps if you are aware of the work involved in preparing a request for registration, and why and how we assess it. We have put the following background information on the Open Book on Supervision website for your convenience.
- Explanatory notes to the request for registration form, listing for each item what we expect you to do.
- Verify carefully whether your company actually needs registration for its activities, preferably with the help of a legal expert. (Tip!)
- If you have a complex request for registration, we recommend that you contact us first to discuss the details prior to submitting it.
Fully completed request for registration
Obviously, if your request is incomplete we cannot start considering it and will ask you to provide additional information. This costs extra time. So be sure to submit a complete request for registration. You will find more detailed instructions in the request form and the explanatory notes to the form. In addition to the request for registration, applications for fit and proper assessments must also be submitted.
The quality of your request for registration
If you thoroughly substantiate your request, demonstrating for each aspect how you satisfy the registration requirements, we will be able to quickly assess all aspects of your application. High-quality information provides strong evidence in support of your request for registration and enables us to complete the procedure in less time.
Consult a legal expert
Practice has shown that applications and requests are more often complete and of a substantially higher quality standard if the applicant seeks expert advice, for example from a legal expert or an auditor. This enables us to consider requests for registration more quickly and more thoroughly. The applicant is always responsible for the contents of the request for registration and must be able to substantiate it.
- Explanatory Notes To The Request For Registration Form For Registration As A Crypto Service Provider (19 December 2019 | 342KB PDF)
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