Companies in the fintech sector enjoy the benefits of offering digital services for their consumers. However, the Israel-based social trading and investment Etoro will reportedly stop offering all crypto services on its platform in the Netherlands. First reported by RTL Z, the company was unable to get its crypto services registered at De Nederlandsche Bank (DNB) in time, and thus, it will discontinue offering crypto services on its platform, in the Netherlands.
Forced to sell cryptocurrencies
Silicon Canals reached out to eToro to learn more about the current situation. In a media statement, it says, “eToro is in the process of registering as a crypto service provider with De Nederlandsche Bank NV (DNB). Until the application is decided upon, eToro will no longer be able to provide crypto services to users in the Netherlands. We apologise for the inconvenience that this will cause.” However, the unicorn assures that its non-crypto services will be offered as usual for its Dutch customers.