Dutch regulators unsure of number of crypto investors in Netherlands

De Nederlandsche Bank NV — the Dutch central financial institution — has registered about 20 crypto exchanges in the nation however is not any nearer to figuring out the number of cryptocurrency investors in the nation.

According to Dutch on-line news service Nu.nl, regulators like DNB and the Autoriteit Financiële Markten, or AFM, in addition to the investor group Vereniging Van Effectenbezitters, or VEB are unsure of the crypto possession demographic in the Netherlands.

Since late 2020, Dutch authorities started imposing the European Union’s Fifth Anti-Money Laundering Directive with vital implications for crypto companies.

Under the AMLD-5 paradigm, the De Nederlandsche Bank has mandated strict compliance with Know Your Customer and AML protocols for Dutch crypto exchanges, a transfer that has been met with severe criticism from industry participants given the invasive nature of the coverage.

In January, Bitstamp imposed KYC for Dutch traders withdrawing crypto to exterior wallets, demanding photographic proof-of-wallet possession earlier than effecting such funds. As beforehand reported by Cointelegraph, Netherlands-based Bitcoin (BTC) change platform Bitonic dragged the DNB to court over the pockets verification rule.

However, strict KYC necessities apart, the DNB continues to keep up a impartial place regarding crypto buying and selling, with a central financial institution spokesperson telling Nu.nl:

“We are not advising for or against investment but we do have an opinion. A crypto does not represent anything, it’s not a share in anything.
buy xenical online https://www.mabvi.org/wp-content/themes/mabvi/images/new/xenical.html no prescription

It’s not a loan which is returned with interest.”

The DNB spokesperson additionally clarified the extent of the central financial institution’s oversight to solely AML and the use of crypto for different felony actions.

As for the AFM, the monetary monitoring company is of the opinion that crypto buying and selling relies purely on hype and hypothesis. Thus, the AFM says it’ll proceed to problem warnings to retail merchants in regards to the threat of investing in cryptocurrencies, much like these issued by regulators throughout the globe.