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11 November 2019 Supervision Supervision label Factsheet

The consideration period for processing requests submitted by existing crypto service providers prior to the entry into force of the Act is six months. We aim to complete all registrations and related reviews within the six-month transitional period. Please ensure you provide the requested information for the registration process as quickly as you can to avoid exceeding the transition period.

Pursuant to Section 23c(2) of the legislative proposal, the deadline for processing requests submitted by new service providers after the entry into force of the Act is two months. Note that these new service providers are not permitted to offer the proposed services during the processing period. If any information is missing, the period within which we are required to decide on the request for registration will be suspended until the date on which the request is supplemented or until the term for its supplementation elapses unused, in accordance with Section 4:15 of the General Administrative Law Act (Algemene wet bestuursrecht – Awb).

Another prerequisite for registration is that all policymakers and co-policymakers must first be assessed for fitness and propriety, even if this means that the deadline needs to be suspended. Please note that fit and proper assessments have their own specific deadlines.

sector

  • Crypto service providers