Is BCM registered with De Nederlandse Bank - DNB?

BCM has been registered at De Nederlandsche Bank – DNB since November 17, 2020. This means they are an official cryptocurrency provider. By taking these steps, BCM is moving forward in terms of regulation and integration. This way BCM is raising the bar for the entire (Dutch) crypto industry and hopes that the legitimacy will attract new investors to the crypto markets.

“Coin Meester B.V. has a registration with De Nederlandsche Bank N.V. (DNB) as a provider of crypto services. DNB supervises Coin Meester B.V.’s compliance with the Prevention of Money Laundering and Terrorist Financing Act and the Sanctions Act 1977. Coin Meester B.V. is not under prudential supervision by DNB or under conduct supervision by the AFM. This means that there is no supervision of financial requirements or business risks and no specific financial consumer protection.”

DNB Bitladon
De Nederlandse Bank

Do I need to verify my BCM account?

The new crypto laws and regulations, that have been in effect since 21th May of 2020, insist that companies who allow buying, selling and storing of crypto currencies must register with the Dutch Central Bank. BCM has registered itself and may continue to facilitate crypto transactions and the storage of crypto currency. This will also mean that customers must provide full identity verification, also known as KYC.

This one-time identity verification can be done with a selfie and a note of todays date written on it. Once approved, users will have a weekly limit of €100,000 If you want a limit that exceeds 100k please contact their customer support.

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