On 26 September 2019, the Decree implementing the Fifth Anti-Money Laundering Directive (5MLD) (Implementatiebesluit wijziging vierde anti-witwasrichtlijn, the Decree) was published for public consultation.
The Decree provides further details on the registration regime of virtual currency exchange platforms and custodian wallet providers that is introduced by the Act implementing 5MLD (please see our previous blog post for more details). Most importantly, the Decree includes requirements on:
- integrity screening of the policymakers and co-policymakers;
- the sound and controlled conduct of business; and
- sanctions for non-compliance.
The consultation period ends on 24 October 2019.
View the Decree (Dutch only), 26 September 2019.