The law prohibits the pursuit of the business of an exchange office in the Netherlands unless authorisation has been issued by DNB. This prohibition also applies to the pursuit of the business of an exchange office through a branch office located in the Netherlands. The prohibition on operating as an exchange institution does not apply to parties that have already been authorised to pursue the business of a bank a or payment service provider.
Under the Wft, De Nederlandsche Bank (DNB) is responsible for the authorisation and supervision of exchange institutions. The activities may not be performed until such authorisation has been issued.