Home » Business » First Dutch Bitcoin (BTC) and Ethereum (ETH) ATM Company Receives DNB Approval » Crypto Insiders

First Dutch Bitcoin (BTC) and Ethereum (ETH) ATM Company Receives DNB Approval » Crypto Insiders

It is now possible again in the Netherlands to convert cash into cash via the ATMs of Byecoin bitcoin (BTC) on ethereum (ETH). The company will announce this on June 24 on its website.

Byecoin has received permission from the Dutch Central Bank (DNB). The financial regulator has issued Byecoin this week with a license, which means that Byecoin, under the name Byelex Data Solutions, is now registered with DNB as the 21st crypto company in the Netherlands.

DNB intervened last year because there was reportedly too little supervision of these ATMs. The regulator wanted to know whether Byecoin met all requirements regarding anti-money laundering and terrorist financing. Last year, the DNB introduced strict requirements and a registration obligation for all Dutch crypto companies.

At the ATMs of Byecoin you can convert cash into bitcoin and/or ether. The other way around is not possible. The deposited amount is then transferred to Byecoin’s digital wallet, so people must first register with Byecoin to create such a wallet.

A minimum of €50 must be deposited and a maximum of €2,500 can be deposited per month. 9% of every deposit goes to Byecoin. The company already has 25 ATMs in the Netherlands and Belgium and wants to install one in all major cities in the Netherlands within a year. The company is currently already in talks with retail chains such as Primera about this.

These ATMs will of course not appeal to all crypto investors equally, but may be ideal for novice investors who want to get a taste with a small amount or simply want to get rid of their cash. The vending machines themselves can also contribute to the adoption of crypto because more and more people will see.

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