DutchNews.nl - DutchNews.nl brings daily news from The Netherlands in English

16 May 2025
Newsletter Donate Advertise
  • News
  • Life in the Netherlands
  • Jobs
  • Podcast
  • About us
  • Search
  • Home
  • Economy
  • Art and culture
  • Sport
  • Europe
  • Society
  • Environment
  • Health
  • Housing
  • Education
  • News
    • Home
    • Economy
    • Art and culture
    • Sport
    • Europe
    • Society
    • Environment
    • Health
    • Housing
    • Education
  • Life in the Netherlands
    • Latest
    • Opinion
    • Books
    • Travel
    • 10 Questions
    • Learning Dutch
    • Inburgering with DN
    • Food & Drink
    • Ask us anything
  • Jobs
  • Podcast
  • About us
    • Team
    • Donate
    • Advertise
    • Writing for Dutch News
    • Contact us
    • Privacy
    • Newsletter
  • Search

Collapsed crypto trader FTX did not have a licence in the Netherlands

November 16, 2022
Photo: Depositphotos.com
Photo: Depositphotos.com

Crashed crypto exchange FTX was operating in the Dutch market without a licence, the central bank has confirmed to news website Nu.nl.

FTX was one of the biggest trading platforms for digital currencies in the world but has fallen apart over the past few days, leaving the many investors who used its services unable to access their cash. The collapse of FTX also prompted drop in crypto currency exchange rates and confidence in the sector worldwide.

Some two million people in the Netherlands are said to invest in digital currency and many of them may have now have lost their money. While most have invested small amounts ‘we know some people have put in large sums,’ the central bank said.

Last year the central bank fined sector peer Binance €3.3 million for operating illegally in the Netherlands. Companies which trade in crypto currency have been required to register since May 2020 under legislation aimed at stopping money laundering and the financing of terrorism.

The central bank declined to say if it had taken action against FTX, saying it could not comment on individual cases.

The central bank said earlier this month that international rules are needed to regulate the use of crypto currencies such as Bitcoin, Ethereum and Tether and it is of the ‘utmost importance’ this is done quickly.

Effective regulation will help ensure the added value offered by crypto technology can be leveraged while avoiding the risks associated with speculation, the bank said at the presentation of a new report on the policy response to crypto assets.

Share this article
  • Facebook
  • Twitter
  • LinkedIn
  • Reddit
  • Copy URL
Uncategorized
Thank you for donating to DutchNews.nl.

We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.

Make a donation
Latest
Show more
“As long as human beings have existed, we’ve moved and migrated"
Former D66 leader and author Jan Terlouw dies aged 93
More councils back call for tougher Dutch line on Israel
Media group DPG's takeover of RTL Nederland set to go ahead
Commission slams poor quality of nuclear waste report
NewsHomeEconomyArt and cultureSportEuropeSocietyEnvironmentHealthHousingEducation
Life in the NetherlandsLatestOpinionBooksTravel10 QuestionsLearning DutchInburgering with DNFood & DrinkAsk us anything
About usTeamDonateAdvertiseWriting for Dutch NewsContact usPrivacyNewsletter
© 2025 DutchNews | Cookie settings

Help us to keep providing you information about coronavirus in the Netherlands.

Many thanks to everyone who has donated to DutchNews.nl in recent days!

We could not provide this service without you. If you have not yet made a contribution, you can do so here.

The DutchNews.nl team

Donate now

Dutchnews Survey

Please help us making DutchNews.nl a better read by taking part in a short survey.

Take part now