Dutch cryptocurrency start-ups struggle with regulations

EU anti-money laundering directive will be valid from January and the Netherlands will make it even more difficult.

According to critics, the regulations could destroy developing cryptocurrency tech start-ups.

The new EU directive is known as Anti-Money Laundering Directive 5 (AMLD5). Member states should proceed based on the directive and fight against money laundering and terrorism financing. However, Dutch Ministry of Finance and its Central Bank are criticized for preparing more difficult legislation than the European directive requires.

Companies including exchange stocks and software developers state that authorities subvert democratic process and try to right past wrongs that have nothing in common with blockchain industry development. Critics say that Dutch Ministry of Finance and Central Bank add up more appendices to AMLD5 without passing it through standard legislative procedure.

According to new rules bitcoin companies should pay their own supervision costs and undergo registration process. Companies consider it hidden (and illegal) licensing and following the useless rules would be expensive. The costs are expected to be €150,000 annually that is likely to be liquidating for small start-ups.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Altman wants to coordinate AI development slowdown with competitors, Bloomberg reports

Technology company OpenAI is considering slowing down the development...

Challenger Banks vs Traditional Retail Banks: Fees and Services Compared in 2026

The line between challenger banks and traditional retail banks is becoming...

Apps Like Klarna: 6 Best BNPL Alternatives in 2026

Buy Now, Pay Later has evolved from a checkout...

Google invests 13 billion euros in AI infrastructure in Finland

American company Google, which is part of the Alphabet...

Mercuryo Review 2026: Payment Gateway, Crypto On-Ramp and Fees Explained

Buying cryptocurrency no longer necessarily means opening an account...

China’s exports rose 25 percent in August thanks to demand for technology and cars

China's year-on-year export growth rate accelerated in August thanks...
spot_img

spot_imgspot_img