The cryptocurrency industry in the Netherlands has won a small but significant battle. The country’s central bank has canceled some excessive verification procedures that it imposed on crypto service providers last fall. The move comes after a local exchange took the matter to court.
DNB Takes a Step Back on Unlawful KYC Requirements
De Nederlandsche Bank (DNB) has backpedaled on some recently enforced regulations regarding the crypto industry. In November 2020, the regulator instructed crypto platforms to obtain additional information from users as part of their know-your-customer procedures. Cryptocurrency service providers were obliged to verify owners of bitcoin addresses. As a result, clients were asked to upload screenshots of their wallets and provide reasons for their crypto purchases.
The controversial rules became the apple of discord between the DNB and the Dutch crypto industry. In a letter to the bank, 25 service providers raised their concerns regarding the stricter r
Źródło: https://news.bitcoin.com/dutch-central-bank-revokes-strict-verification-rules-for-crypto-exchanges/
