The Road to MiCAR continues – Dutch view added
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Partner
Germany
As co-head of the global Finance & Financial Regulation Practice Groups and head of the German Finance & Financial Regulation Practice Group, I advise on national and international finance and capital markets law as well as on commercial and corporate law. I am also a member of the international steering group of our Financial Services Sector Group.
Partner
Germany
As partner in our Finance & Financial Regulation Group in Frankfurt, I advise our national and international clients on banking regulatory issues and finance law.
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MiCAR will have an impact on all European countries. In our latest update, we have added the Dutch view.
The Netherlands has transposed the fifth Anti-Money Laundering Directive (AMLD5) into the Dutch AML Act (Wet ter voorkoming van witwassen en financieren van terrorisme)
and included the obligation for crypto service providers to request registration with the Dutch Central Bank (“DNB”).
Dutch crypto service providers face stricter registration from the regulator, unlike regulators in other European countries.
Currently, a license under the current registration cannot be ‘passported’ to other EU countries.
MiCAR offers a licence for Dutch crypto service providers to connect in a larger market.
