LiteBit is officially registered with The Dutch Central Bank (DNB) on 6 November 2020.

The Anti Money laundering and finance of terrorism regulations have been in force for the (Dutch) crypto industry since May 21, 2020. This means, that companies that make it possible to buy, sell and store cryptocurrencies must register with The Dutch Central Bank. The Dutch Central Bank only supervises LiteBit’s compliance with the Money Laundering and Terrorist Financing.

With this registration, we want to show that we take security very seriously for our users and the industry in general.

What will change for existing LiteBit users?

The Wwft imposes various requirements on crypto service providers. In order to comply to the requirements and to make our platform even safer, we are obliged to conduct customer due diligence. It is therefore necessary to implement additional risk-mitigating controls with which we can combat money laundering or terrorist financing.

We have already implemented the most significant change on our platform. It is mandatory to verify your account if you want to trade with LiteBit.

As these new regulations are only the beginning of regulation within the crypto sector, LiteBit will strive to stay ahead of regulatory developments and continue to contribute to it actively.

In this way, we make it possible for everyone to trade with us in a safe way. That's what we are aiming for!