De Nederlandsche Bank (DNB) – the central bank of Holland – has reportedly publicly generated an ultimatum for registration, focusing on businesses dealing with fiat-supporting crypto coins. 

Specifically, the DNB reportedly announced that in accordance with the voting result from a Dutch Senate, to approve the Implementation Act amending the EU’s fourth Anti-Money Laundering (AML) Directive back on the 21st last month, all statutory obligations established by the Act will be in effect shortly. 

Particularly, the DNB registration deadline, which lasts up to a fortnight, will only apply to companies providing fiat-crypto conversion features or custodial services for crypto. 

Firms that have already submitted the draft version of registration will be automatically accepted as formal applications when the implementation deadline arrived, under the terms of a transitional arrangement, with a presence of outstanding fees. 

Activities shutdown will be in effect for any businesses unsuccessful in submitting the draft upon the deadline. The ones that carry on with their operations as usual without subjection to the DNB’s process will receive compromised status for their applications. 

Any businesses that fail to meet the registration requirements, will receive enforcement actions, the DNB warned.