🌷 Dutch financial authorities plan licensing scheme for crypto exchanges

The Dutch central bank, De Nederlandsche Bank (DNB), and the Netherlands Authority for the Financial Markets (AFM) published a report last week calling for an international regulatory framework for cryptocurrencies in accordance with the Fifth European Anti-Money Laundering Directive (AMLD5). The DNB and AFM called for the licensing of cryptocurrency exchanges and wallet providers due to risks of “high financial crime(s)." They also asked for amending European securities laws to allow small to medium sized enterprises (SMEs) using blockchain technology to use initial coin offerings (ICOs) or security token offerings (STOs) as new methods of corporate funding.