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Niek Delis

Initiative Lead SparQ

Niek Delis is a skilled professional with a strong educational background and experience in management, information science, and business economics.

He studied Management at the University of Amsterdam and furthered his education in Information Science and Business Economics at the Higher Institute for Business Administration and Economics.

Niek currently holds the position of Initiative Lead at ING, where he leads the SparQ project, showcasing his expertise in driving strategic initiatives within the organization.

Highlights

May 10 · linkedin

Crypto companies are too cool for compliance.

But that will break their neck!

In 2022, Binance had to pay a hefty fine of 3.325.000€, because they weren’t properly registered in the Netherlands.

This wasn’t just a mishap. Crypto companies systematically underestimate compliance.

Now that crypto is regulated in Europe and crypto companies have to follow MiCA, they need to pay even more attention.

But crypto experts that I talk to all state that the companies are so focused on growing and technical aspects, that the regulatory frameworks are just background noise and they often underestimate the impact on what is going on. And the regulatory pressure won’t reduce for them.

They still have a chance to get on top of it, but will soon be overwhelmed by fighting fires and reacting to regulatory requests.

If I was running a crypto company in 2024, I’d put effort into automating my compliance right now.

Before it’s too late.

Which other examples of crypto fines have you seen recently?

Related Questions

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Niek Delis
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Location

Amsterdam Area, Netherlands