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Dutch Central Bank Announced That Use Of Digital Technologies Would Be A Supervisory Focus For 2020
Summary: The Dutch Central Bank, DNB, published in their annual Supervision Outlook for 2020 that they will start using AMLD5 to monitor crypto enterprises (Forbes). The report stresses that fighting financial and economic crime is a key role under their supervision. Brexit could impact the E.U's crypto-firms by complicating matters, which means that the E.U. will ...
The Dutch Central Bank, DNB, published in their annual Supervision Outlook for 2020 that they will start using AMLD5 to monitor crypto enterprises (Forbes). The report stresses that fighting financial and economic crime is a key role under their supervision.
Brexit could impact the E.U's crypto-firms by complicating matters, which means that the E.U. will need to extend their crypto regulatory standards to foster compliance across jurisdictions. The challenges AMLD5 KYC will face are identifying bank holder accounts as well as their crypto wallets and the expansion of a provider list for cryptocurrency. The DNB states that the trust of the marketplace depends on the use of careful data.
By Claudia Rivera
Tags: Brexit,Cryptocurrency,Dutch Bank,E.U. AMLD5 KYC
Link: Dutch Central Bank Announced That Use Of Digital Technologies Would Be A Supervisory Focus For 2020 [Copy]
