BLOX Receives Approval of Dutch Central Bank, as the First Consumer-Focused Cryptocurrency Company

Today, we’re SUPER excited to announce that BLOX is the first consumer-focused cryptocurrency company that will be included in the registry of the Dutch Central Bank.

This registration is mandatory in the Netherlands for every company that allows its users to buy, sell, trade and hold cryptocurrencies. Businesses that want to qualify for the registration must comply with anti-money laundering guidelines.

After BLOX’s sister company, BTC Direct, announced their €11 million Series A financing round three weeks ago, this is now the second piece of good news for the European company. Earlier, the Dutch Central Bank only included a crypto asset manager into their registry.

Accessible to the General Public

BLOX allows consumers to invest in their favourite digital currency for as little as €1. Therefore the approval of the Dutch Central Bank means that cryptocurrencies will remain widely accessible to the general public.

Cryptocurrency service providers that are active in the Netherlands will now fall under the supervision of the Dutch Central Bank for the first time. This ushers in a new era for crypto companies but also for the national bank, and an extensive process preceded the approval.

Head of Legal, Mark Bakker about the registration:

7 years ago we launched our business and provided the basic tools for our users to buy and sell cryptocurrencies. Back then, Bitcoin was still often falsely associated with fraud and money laundering and the entire industry was viewed with suspicion.

Now, almost 7 years later we have managed to receive approval of the Dutch Central Bank. BLOX is the easiest way available to get started with Bitcoin.

We want to make sure that everyone has the tools to be become part of this technological and economic innovation.

About BLOX

BLOX is a product by BTC Direct, the mobile app has been around since 2018 and is free to download for iOS and Android. With BLOX you can buy, sell and trade cryptocurrencies with the greatest of ease. BLOX already has tens of thousands of active users.

Disclaimer

BLOX B.V. is registered with the Dutch Central Bank (DNB) as a provider of crypto services. DNB supervises the compliance by BLOX B.V. of the Money Laundering and Terrorist Financing (Prevention) Act and the Sanctions Act 1977. BLOX B.V. is not subject to the prudential supervision of DNB or the conduct of business supervision of the AFM. This means that there is no supervision of financial requirements or business risks and there is no specific financial consumer protection.