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How to apply successfully

Factsheet

An issuer of asset-referenced tokens applying for a licence will want the application process to proceed as quickly as possible. DNB does everything in its power to ensure a smooth and swift consideration process.

Published: 01 July 2024

You can positively influence the process yourself. We have listed a number of recommendations below. We have looked at past applications from other sectors that were smoothly processed in order to identify success factors. Obviously, complete and correct licence applications will be more successful.

These are the success factors for a smooth licence application:

  • Thorough preparation
    It will help if you are aware of the work involved in preparing an application, and why and how we assess its components. We have put the following background information on our Open Book on Supervision website for your convenience.
    • Check in advance whether a licence is in fact required for the specific activity. You may need to consult with a legal expert.
    • If you have a complex application, we recommend that you contact us first to discuss the details prior to submitting it.

  • Fully completed application
    Obviously, if your application is incomplete we cannot start considering it and will ask you to provide additional information. This will take time, and the consideration period will not start. So be sure to submit a complete application.

  • The quality of your application
    If you thoroughly substantiate your application, demonstrating for each aspect how you satisfy the licence requirements, we will be able to quickly assess all aspects of your application. High-quality information provides strong evidence in support of your application and enables us to complete the procedure in less time.

  • Consult a legal expert
    Practice has shown that applications are often more complete and of a substantially higher quality if the applicant sought advice, for example from a legal expert or an auditor who is thoroughly versed in the ins and outs of MiCAR. We can assess complete and well-substantiated applications faster and more thoroughly.

  • Checklist
    The following points are often overlooked in applications for a licence, so we have prepared a checklist for your convenience. We would advise you to check this before submitting your application.
    • Does your institution have a footprint in the Netherlands?
    • Are there any integrity issues or professional history antecedents involving proposed policymakers or co-policymakers that we should know about? Applicants sometimes propose appointing a board member on whom we, or another supervisory authority, previously issued a negative decision or who is subject to criminal investigation. Be sure to check these points before submitting your application.

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