The District Court of Rotterdam ordered the Dutch Central Bank to substantiate the requirements for cryptocurrency service providers. This is stated in the decree.
In November 2020, local bitcoin exchange Bitonic obliged users to take screenshots of wallets or send a signed message in accordance with the instructions of the regulator. In January 2021, the trading platform asked to clarify the KYC verification procedure.
The court pointed out a list of measures that Bitonic is taking to combat illegal transactions. Within six weeks, the Central Bank must substantiate the requirements for representatives of the cryptocurrency industry.
Earlier, the Irish authorities warned of expanding the anti-money laundering and terrorist financing law to companies associated with digital assets.
In February 2021, the Austrian financial regulator called for stricter regulation of the industry amid the growing activity of fraudsters.
Recall that the Estonian Ministry of Finance has proposed stricter rules for cryptocurrency service providers.
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