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Dutch central bank wants to regulate cryprocurrency providers


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Dutch central bank wants to regulate cryprocurrency providers

The Dutch National Bank has proposed a draft law that will require businesses to apply for a license to trade in cryptocurrencies, in a move to prevent money laundering, De Telegraaf reported Dec. 11.

The regulator is worried that cryptocurrency transactions are currently anonymous. To qualify for a license, providers would need to know who their customers are and agree to report suspicious transactions, according to the report.

The draft also includes proposals to tighten requirements for art traders and brokers to reduce money laundering risks. An approval of the draft by relevant parties is still pending, the report said.