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The central bank of the Netherlands will regulate cryptos next January.

Reuters reported on September 3 that De Nederlandsche Bank, the central bank of the Netherlands, has revealed that as of January 10, 2020, relevant companies that offer cryptocurrency-related services must register with the institution if they wish to continue operating.

In January, the Dutch Minister of Finance, Wopke Hoekstra, received official advice from the Financial Markets Authority and De Nederlandsche Bank in order to introduce a licensing system for cryptocurrency services.

Later, in July, the ministers of that country have urged their government to regulate cryptocurrencies and certain cash payments, as a measure to prevent money laundering.

Although Holland does not recognize cryptocurrencies as legal tender, in 2018, a Dutch court ruled that Bitcoin (BTC) was a legitimate “transferable value” in a case of coercive fine.

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