Press release – As of today LiteBit is officially registered at De Nederlandsche Bank (DNB). The Rotterdam broker is one of the first cryptoparties to meet the requirements of the regulator DNB.
In April it was announced that crypto parties will from now on be supervised by DNB and will have to register. LiteBit, which was recently voted best crypto broker for the second year in a row, is proud of its registration and supports the new developments that make the market more transparent.
With this registration in the Netherlands, LiteBit proves that it takes security seriously for its users and the sector in general. The new legislation and regulations, which were adopted by the Senate on 21 April, oblige crypto parties to be transparent and open towards the regulator DNB. In this way, money laundering and the financing of terrorism must be prevented.
The legislative change is a positive development, says Olivier van Duijn, CEO at LiteBit: “This is an important milestone for the crypto sector, but especially for all crypto traders in the Netherlands. The supervision of DNB ensures that only serious players remain.
With the obligation to register, the crypto bank market in the Netherlands is taking a big step towards maturity. We are extremely proud to be one of the first parties to meet the requirements of De Nederlandsche Bank”.
LiteBit has the ambition to become the largest in Europe. In addition to a registration in the Netherlands, the cryptoparties are therefore also working on registrations in Germany, France and Austria, among others.
Years of preparatory work
In recent years LiteBit has invested heavily in trust and security, and before it became known that cryptoparties would be supervised by DNB, there was already policy in place to prevent money laundering and terrorist financing.
The registration and requirements therefore fit in well with LiteBit’s core strategy, says Van Duijn.
“The expectation is that regulation will lift the entire market to a higher level.
It exudes professionalism and maturity. With our registration we underline that crypto trading is safe with us. That can be just that little push that someone needs to start trading as well. We expect many consumers to invest in crypto”.
OLIVIER VAN DUIJN
LiteBit is also working on registrations in other European countries.
LiteBit is the platform where trading in crypto is safe, simple and personal. Our aim is to be the most customer friendly and reliable platform in Europe. LiteBit supports investors in buying, selling and managing crypto, such as Bitcoin, Ethereum and +50 other coins.
The Customer Support team is available day and night for LiteBit’s many users and potential new customers. LiteBit has been able to call itself the best crypto broker in the Netherlands for two years in a row.
Disclaimer: 2525 Ventures B.V., trading under the name LiteBit, has registered with De Nederlandsche Bank N.V. (DNB) as a provider of crypto services. DNB supervises 2525 Ventures B.V.’s compliance with the Money Laundering and Terrorist Financing (Prevention) Act and the Sanctions Act 197.
2525 Ventures B.V. is not subject to prudential supervision by DNB or to conduct supervision by the AFM. This means that there is no supervision of financial requirements or business risks and there is no specific financial consumer protection.