Flow Traders NV enters crypto market in spite of regulator’s warnings

Verified
5 months ago
0

According to Bloomberg, speed trader Flow Traders NV, based in Amsterdam, has entered the cryptocurrency market in spite of the warnings of the Dutch Authority for the Financial Markets (AFM) not to buy and sell digital assets.

According to the company’s CEO Dennis Dijkstra, Flow Traders NV became the first company to provide the opportunity to purchase and sell its own digital assets traded on regulated stock exchanges.

Nevertheless, Nienke Torensma, a spokeswoman for the Authority for the Financial Markets, said that AFM “discourages activities in cryptos both by consumers and professional license holders” and “doesn’t regard it to be an asset class”.

In June, New York-based companies VanEck and SolidX, previously unsuccessfully trying to get permission from the Securities and Exchange Commission of the United States to open over-the-counter investment bitcoin-funds, decided to join forces by filing a joint application for the launch of a regulated cryptocurrency ETF.