New Dutch Law: Clients Must Explain Why They Want To Buy Bitcoin
Netherlands-based crypto exchanges are now required by law to get additional information from clients regarding their bitcoin addresses. As part of the new requirements, which went into effect on Nov. 17, clients must now furnish exchanges with reasons why they wish to buy bitcoin. They will also need to inform the exchange officials of the kind of wallet they use. Additional Requirements The new Dutch regulatory changes have gone into effect despite protestations by some of the country’s crypto exchanges. The Dutch Central Bank (DNB), which is enforcing the new regulations, wants....
Related News
Kraken, one of the world’s oldest crypto exchanges, is strengthening its presence in Europe and plans to buy Coin Meester B.V. (BCM), a Dutch crypto broker. In a press release on October 5, Kraken said the purchase would give them a “sizable position in the Dutch market” and benefit the broker’s clients. Kraken To Acquire BCM […]
The Dutch National Police have taken an interest in Blockchain-based cloud services. A presentation given over the summer reveals a new focus on Storj and Filecoin. Members of the Dutch National Police and UNIJURIS gave a presentation in July titled "Technical and Legal Challenges of Criminal Law Enforcement in the Digital Age ." This is an update of a presentation given in 2013 titled "The merits & challenges of distributed least authority data storage ." The presentations explain how cloud storage and file hosting "Data is cut up in a hundred pieces. Pieces are spread over a hundred....
If you are making a purchase using bitcoin in the Netherlands, you may soon be exempt from VAT. Dutch Bitcoin news website Coincourant.nl reported that Jacob Kamminga, the Dutch Minister of Finance. Speaking at the Free University of Amsterdam, or Vrije Universiteit Amsterdam during a debate, he indicated that the government may exempt bitcoin from VAT. While this is still not the official position of the Dutch government, Finance Minister Kamminga's view should be seen to be a harbinger of good news for the Dutch Bitcoin community. Under current Dutch law if you pay by bitcoin, that sale....
The Dutch central bank has fined cryptocurrency exchange Binance 3.325 million euros for offering crypto services in the Netherlands without the legally required registration. Binance has appealed against the fine and has now submitted an application to register with the central bank. Binance Fined by Dutch Regulator The Dutch central bank, De Nederlandsche Bank (DNB), revealed Monday that it has fined Binance Holdings Ltd. for offering crypto services without registration as required by law. The administrative fine of 3.325 million euros ($3.4 million) was imposed on the cryptocurrency....
Billboards saying “Bitcoin is the future,” featuring laser eyes, can now be seen in the Netherlands. They are part of an election campaign for Robert Valentine, the chairman of the Dutch Libertarian Party and candidate for the upcoming parliamentary election. Dutch Pro-Bitcoin Parliamentary Candidate With Laser Eyes on Billboards The Dutch Libertarian Party candidate for the upcoming parliamentary election, Robert Valentine, is featured on billboards with a bitcoin message and laser eyes. The billboards say, “Bitcoin is de toekomst,” which means “Bitcoin is....