Regulated:
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Offer their services legally in the country (DNB registration)
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Supervised for compliance with Anti-Money Laundering, Terrorist Financing (AML/CTF) and sanctions legislation
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Policies, procedures & risk controls are evaluated
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Ongoing and yearly assessment of the risks related to ML/TF and Sanctions evasion
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Regulated exchanges typically offer more transparency regarding their business practices, fee structures, and market data
Not regulated:
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Not authorized by DNB, service provision in NL is illegal
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The regulator has no insight into the policies, processes, and risk management; therefore, the risk is unknown and cannot be quantified
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Unregulated exchanges often see compliance as a burden and execute it very poorly
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