Exchanges, Netherlands, Regulation, CoinFlash

Netherlands-based cryptocurrency exchange Bitonic says it has been “forced†to bring in extra verification measures due to requirements from the country’s central bank.

  • In a notice published Monday, the exchange said it will now ask users for extra information “such as the purpose with which you intend to purchase bitcoins and what kind of wallet you use.”
  • It said it must obtain proof from customers they are the “legitimate owner” of a bitcoin address by uploading a screenshot of their wallets, or by signing a message with the bitcoin address.
  • Bitonic called the requirements “ineffective and disproportionate,” saying it had asked multiple times that the central bank remove the requirement.
  • The central bank, De Nederlandsche Bank, is said to be applying the Netherland’s Sanctions Act to cryptocurrency exchanges, seeking to ensure their users and transaction beneficiaries are not on a Dutch or European sanctions list.
  • “The Netherlands is currently the only country in the European Union where this far-reaching measure is demanded,” the exchange said.
  • It further called for users to “formally object” to the central bank about extra requirements and the collection of the data.
Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Mike Novogratz: Bitcoin Investors Waiting for a New Narrative Shift

Mike Novogratz declared institutional investors are waiting for the next narrative shift in a recent interview at the Bitcoin 2021 conference in Miami. The CEO of Galaxy Digital thinks the market is now in a consolidation phase after the price crash last month. Novogratz also commented on what the rise of defi could mean for […]

Xem chi tiết: Mike Novogratz: Bitcoin Investors Waiting for a New Narrative Shift

Weibo Cracks Down Crypto Related Accounts as China Strengthens Its Anti Crypto Stance

Sina Weibo, the Chinese equivalent of Twitter, banned the accounts of several key cryptocurrency and defi influencers in the country yesterday, according to reports from local sources. This might be a continuation of the anti-crypto stance the Chinese state has been exerting since 2013, and more profoundly in the last days with the crackdown of […]

Xem chi tiết: Weibo Cracks Down Crypto Related Accounts as China Strengthens Its Anti Crypto Stance

Tiger Brokers and Futu to Offer Crypto Trading Services Outside China

Two Chinese online brokerages have set out to enter the global crypto trading market. The platforms, Tiger Brokers and Futu, are planning to offer their services only outside the People’s Republic as Beijing is once again cracking down on bitcoin trading in the country. Major Chinese Online Brokers Dive Into Crypto Trading Beijing-based Tiger Brokers […]

Xem chi tiết: Tiger Brokers and Futu to Offer Crypto Trading Services Outside China

Japan’s Top Financial Watchdog Sends a Warning Crypto Derivatives Exchange Bybit

The Japanese government’s Financial Services Agency (FSA) has issued a warning to the crypto derivatives exchange Bybit claiming that the trading platform is allowing residents of Japan access to the exchange. The news follows the Bank of Japan Governor Haruhiko Kuroda criticizing digital currencies for speculation. Japan’s FSA Warns Bybit Fintech Limited Japan’s top regulator […]

Xem chi tiết: Japan’s Top Financial Watchdog Sends a Warning Crypto Derivatives Exchange Bybit

Sichuan Energy Officials Plan to Meet in June to Discuss Bitcoin Mining Implications

Ever since government officials in China started talking about cracking down on bitcoin mining and reiterating crypto guidelines from 2017, digital currency proponents and the media have been focused on this region. Just recently, a Chinese state-backed online publication revealed that the Sichuan Energy Regulatory Office plans to hold a meeting on June 2, 2021, […]

Xem chi tiết: Sichuan Energy Officials Plan to Meet in June to Discuss Bitcoin Mining Implications

Australian Tax Office to Prompt 400,000 Crypto Holders to Report Their Gains

Australia’s revenue service has reminded a growing number of crypto investors about their tax obligations. Rejecting the common misconception that crypto gains are only taxable when coins are cashed back into dollars, the tax office is going to prompt hundreds of thousands of taxpayers to report profits and losses from their cryptocurrency transactions. Tax Office […]

Xem chi tiết: Australian Tax Office to Prompt 400,000 Crypto Holders to Report Their Gains

Spain Based Custodial Services to Report Ownership of Crypto Assets, According to New Law Draft

A new law draft approved just today by the Finance Commission of the Spanish Congress would make Spain-based custody services report the ownership of the cryptocurrencies under management. The law, which was stuck in Congress for some time, aims to close a gap in the legislation that allowed some users to bypass the requirements and […]

Xem chi tiết: Spain Based Custodial Services to Report Ownership of Crypto Assets, According to New Law Draft

Dutch Central Bank Revokes Strict Verification Rules for Crypto Exchanges

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 […]

Xem chi tiết: Dutch Central Bank Revokes Strict Verification Rules for Crypto Exchanges

Restrictions on Crypto Trading to Deprive Nation of Opportunities, Iranian Fintechs Warn

Restrictions on Crypto Trading to Deprive Nation of Opportunities, Iranian Fintechs Warn

Bosnia and Herzegovina Is Preparing a Draft Bill to Regulate Cryptocurrencies

Bosnia and Herzegovina Is Preparing a Draft Bill to Regulate Cryptocurrencies

Bitcoin’s Smallest Unit: Billionaire Mike Novogratz Wants Crypto Exchanges to Quote Satoshis

South Korea to Crack Down on Phishing Websites Attacking Crypto Users

Dogecoin Market Cap Nears $100B, Critics Blast ‘Joke Coin,’ Community Abuzz With Rumors of DOGE Whales

South Korean Police Officers Banned From Buying Cryptocurrency