Amdax BV becomes the first official crypto services provider in the Netherlands
CONTENT

  • The first crypto fund starts operating in the Netherlands

  • Amdax BV intends to popularize cryptocurrencies

  • UK crypto fund fails

International consortium of news organizations developing transparency standards.

Amdax BV became the first officially registered cryptocurrency service provider in the Netherlands. The organization was registered with De Nederlandsche Bank and is now ready to cooperate with retail and institutional investors.

Cryptocurrency is a mature asset

Amdax BV was the first company in the Netherlands to receive official permission from De Nederlandsche Bank to provide cryptographic services. This is a huge step, considering that since May of this year, the Dutch government has been applying new legislation regarding cryptocurrency..

Today AMDAX supports businesses, as well as private investors with a portfolio of 2.5 bitcoins or more, providing services related to cryptocurrency trading and safe storage of assets. The company registration process began back in May and took four months, as the country’s government tightens requirements for cryptocurrency companies, taking into account the recommendations of the anti-money laundering organization FATF.

Amdax BV became the first official ...

By registering with DNB, AMDAX intends to contribute to the adoption and distribution of cryptography.

“DNB rightly applies high standards for this registration. The market needs a clear legal framework such as the DNB set of requirements. This registration shows investors that cryptocurrency is a mature asset class not for criminals, but for smart investors. Taking into account that an increasing number of investors are looking at Bitcoin, as well as other cryptocurrencies, as interesting long-term investments, until today they have been operating in a market that is not regulated. At a time when traditional financial conditions are under pressure, we are able to offer customers a safe and reliable alternative, ”the company said in a statement..

Amdax BV became the first official ...

Institutionals are not ready to invest in funds

Although Amdax BV has received official approval to provide services to investors, this does not guarantee market success at all.

Round Table Segment 2, Financial Markets Outlook – Part 2

Earlier, BeInCrypto reported that Prime Factor Capital, the first regulated cryptocurrency hedge fund in the UK, closed just a year after receiving regulatory approval..

“We confirm that the fund, despite the fact that its average monthly yield exceeded 4%, is being closed due to insufficient demand from institutional investors,” said Nick Niedermovve, CEO of Prime Factor Capital..

The closure of Prime Factor Capital could hit hard the development of institutional-oriented cryptocurrency hedge funds, writes Financial News, since it was this fund in 2019 that became the first to receive approval from the British regulator to provide services to large investors..

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