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Netherlands

Retail_Trading_Status

Allowed-Regulated Unknown
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Analysis ID
#375
Version
Latest
Created
2025-06-26 12:59
Workflow Stage
Live

Executive Summary

Retail trading of cryptocurrencies is legally permitted in the Netherlands but is subject to evolving regulations. The regulatory framework is transitioning from a registration-based system under De Nederlandsche Bank (DNB) to a comprehensive licensing regime under the European Union's Markets in Crypto-Assets Regulation (MiCA), with the Dutch Authority for the Financial Markets (AFM) now responsible for issuing MiCA licenses. Key requirements for crypto-asset service providers (CASPs) include AML/CFT compliance, KYC due diligence, and obtaining a MiCA license by June 30, 2025. Cryptocurrencies are treated as assets for tax purposes and are not considered legal tender.

Key Pillars

The key regulatory pillars in the Netherlands include: (1) The Dutch Authority for the Financial Markets (AFM) as the primary regulator for CASPs under MiCA, responsible for licensing. (2) Core compliance requirements such as Anti-Money Laundering (AML), Countering the Financing of Terrorism (CFT), and Know Your Customer (KYC) / Customer Due Diligence (CDD) obligations, primarily enforced through the Money Laundering and Terrorist Financing Prevention Act (Wwft). (3) Mandatory licensing for CASPs, with a transition period for existing DNB-registered firms to obtain a MiCA license from the AFM by June 30, 2025.

Landmark Laws

  • EU's Fifth Anti-Money Laundering Directive (AMLD5): Implemented into Dutch law via the Money Laundering and Terrorist Financing Prevention Act (Wwft) in May 2020, requiring CASPs to register with DNB and comply with AML/CFT regulations.
  • Markets in Crypto-Assets Regulation (MiCA): Entered into force in June 2023, with key provisions applying from December 2024, mandating MiCA licenses for CASPs operating in the Netherlands issued by the AFM. The implementing law of the MiCA Regulation entered into force on December 30, 2024.

Considerations

  • Cryptocurrencies are not considered legal tender in the Netherlands; payments are settled in euros.
  • For tax purposes, private holdings of cryptocurrencies are treated as assets under "Box 3" of the income tax system, with the tax office assessing the total value on January 1st and taxing a fixed yield. Crypto-related business activities are taxed as normal earnings under "Box 1".
  • Both DNB and AFM have issued warnings regarding the risks associated with cryptocurrency trading, including market volatility, fraud, scams, and market manipulation like pump-and-dump schemes. MiCA aims to address these risks.
  • The EU "travel rule" mandates identifying information for crypto transfers of €1,000 or more.

Notes

  • Historically, the Netherlands has been perceived as a crypto-friendly jurisdiction.
  • A transitional period exists for DNB-registered CASPs to obtain a MiCA license from the AFM by June 30, 2025; during this period, firms must maintain both their Wwft registration with DNB and apply for a MiCA license from the AFM.
  • Dutch guidance exists on how to verify self-hosted wallets.
  • MiCA explicitly prohibits pump-and-dump schemes.

Detailed Explanation

In the Netherlands, individual citizens and residents are legally permitted to buy, sell, and hold cryptocurrencies. However, the regulatory environment is undergoing a significant transformation, shifting from a lighter, registration-based system to a comprehensive licensing regime under the European Union's Markets in Crypto-Assets Regulation (MiCA). Historically perceived as crypto-friendly, the Netherlands has been evolving its regulatory approach to enhance consumer protection, market integrity, and financial stability. Since May 2020, the implementation of the EU's Fifth Anti-Money Laundering Directive (AMLD5) into Dutch law, through the Money Laundering and Terrorist Financing Prevention Act (Wwft), mandated that crypto-asset service providers (CASPs), such as exchanges and custodian wallet providers, register with De Nederlandsche Bank (DNB). This registration focused on AML/CFT compliance, requiring firms to conduct Know Your Customer (KYC) due diligence, monitor transactions, and report suspicious activities to the Financial Intelligence Unit Netherlands (FIU-NL). The advent of MiCA, which entered into force in June 2023, with key provisions applying from December 2024, marks a substantial shift. The Dutch Authority for the Financial Markets (AFM) is now responsible for issuing MiCA licenses to CASPs operating in the Netherlands. Applications for these licenses have been open since April 22, 2024, with licenses effective from December 30, 2024. A transitional period exists for existing DNB-registered CASPs, requiring them to obtain a MiCA license from the AFM or another EU supervisor by June 30, 2025, to continue providing services to Dutch users; this period is shorter than the maximum 18 months allowed under MiCA. During this transition, firms must maintain their Wwft registration with DNB for AML/CFT purposes while applying for a MiCA license from the AFM. Cryptocurrencies are not considered legal tender in the Netherlands; payments are settled in euros. For tax purposes, private holdings are treated as assets under "Box 3" of the income tax system, assessed on January 1st, with a fixed yield taxed. Crypto-related business activities are taxed as normal earnings under "Box 1". Both the DNB and the AFM have issued warnings about the risks associated with cryptocurrency trading, including market volatility, fraud, scams, and market manipulation. MiCA aims to address these risks by introducing rules on transparency, disclosure, authorisation, and supervision of CASPs, explicitly prohibiting pump-and-dump schemes. The regulatory framework also includes the EU "travel rule," mandating identifying information for crypto transfers of €1,000 or more, and Dutch guidance exists on verifying self-hosted wallets. In summary, retail trading of cryptocurrencies in the Netherlands is allowed but subject to a robust and evolving framework, including mandatory registration/licensing, strict KYC/AML/CFT obligations, tax implications, and increasing oversight aimed at consumer protection and market integrity, largely driven by MiCA.

Summary Points

Retail Trading of Cryptocurrencies in the Netherlands: Regulatory Overview (June 2025)

1. General Status:

  • Allowed-Regulated: Individual citizens and residents are legally permitted to buy, sell, and hold cryptocurrencies.
  • Evolving Landscape: Moving from a registration-based system to a comprehensive licensing regime.
  • Not Legal Tender: Cryptocurrencies are not considered legal tender; payments are settled in euros.

2. Key Regulatory Bodies and Roles:

  • De Nederlandsche Bank (DNB):
    • Historically responsible for registering Crypto-Asset Service Providers (CASPs) under the Money Laundering and Terrorist Financing Prevention Act (Wwft) for AML/CFT compliance.
    • During the MiCA transition period, DNB maintains Wwft registration oversight concurrently with AFM's MiCA licensing.
  • Dutch Authority for the Financial Markets (AFM):
    • Responsible for issuing Markets in Crypto-Assets Regulation (MiCA) licenses to CASPs operating in the Netherlands.
    • Applications for MiCA licenses have been open since April 22, 2024.
  • Financial Intelligence Unit Netherlands (FIU-NL):
    • Receives reports of suspicious activities from CASPs.

3. Key Legislation and Regulations:

  • Markets in Crypto-Assets Regulation (MiCA):
    • EU regulation that entered into force in June 2023, with key provisions applying from December 2024.
    • Aims to enhance consumer protection, market integrity, and financial stability.
    • Introduces rules on transparency, disclosure, authorization, and supervision of CASPs.
    • Explicitly prohibits market manipulation tactics like pump-and-dump schemes.
  • Money Laundering and Terrorist Financing Prevention Act (Wwft):
    • Dutch law implementing the EU's Fifth Anti-Money Laundering Directive (AMLD5).
    • Requires CASPs to register with DNB and comply with AML/CFT obligations.
  • EU "Travel Rule":
    • Requires identifying information of both sender and receiver to accompany crypto transfers of €1,000 or more.

4. Requirements for Compliance (CASPs):

  • MiCA Licensing: CASPs must obtain a MiCA license from the AFM (or another EU supervisor) to operate legally in the Netherlands.
  • AML/CFT Compliance (Wwft):
    • Registration with DNB (maintained during MiCA transition).
    • Know Your Customer (KYC) due diligence.
    • Transaction monitoring.
    • Reporting suspicious activities to FIU-NL.
  • EU "Travel Rule" Compliance: Implement procedures to collect and transmit required information for crypto transfers.
  • Verification of Self-Hosted Wallets: Dutch guidance exists on how to verify self-hosted wallets.

5. Notable Restrictions or Limitations:

  • MiCA Licensing Deadline: Existing DNB-registered CASPs must obtain a MiCA license by June 30, 2025, to continue providing services.
  • Consumer Warnings: Both DNB and AFM have issued warnings about the risks associated with cryptocurrency trading (market volatility, fraud, scams, market manipulation).
  • Taxation:
    • Private holdings are generally treated as assets under "Box 3" of the income tax system (taxed on assumed yield).
    • Crypto-related business activities (mining, staking, trading) are taxed as normal earnings under "Box 1".

6. Recent Developments or Changes:

  • MiCA Implementation: The Netherlands is actively implementing MiCA, with the AFM issuing licenses.
  • Transitional Period: Shorter transitional period than the maximum allowed under MiCA; entities must have their MiCA license in place by June 30, 2025.
  • AFM's Role: The AFM is now the primary supervisor responsible for handling MiCA license applications.
  • Increased Oversight: Increasing oversight aimed at protecting consumers and ensuring market integrity, largely driven by MiCA.

Full Analysis Report

Report on Retail Trading Status of Cryptocurrencies in the Netherlands

Date: 2025-06-26

Topic: Retail_Trading_Status

Description: Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).

Retail_Trading_Status

Status: Allowed-Regulated

Narrative Explanation:

Individual citizens and residents in the Netherlands are legally permitted to buy, sell, and hold cryptocurrencies. The regulatory landscape has been evolving, moving from a lighter registration-based system to a comprehensive licensing regime under the European Union's Markets in Crypto-Assets Regulation (MiCA). This transition signifies a maturation of the regulatory approach, aiming to enhance consumer protection, market integrity, and financial stability.

Historically, the Netherlands has been perceived as a crypto-friendly jurisdiction. Since May 2020, with the implementation of the EU's Fifth Anti-Money Laundering Directive (AMLD5) into Dutch law via the Money Laundering and Terrorist Financing Prevention Act (Wwft), crypto-asset service providers (CASPs)—such as exchanges and custodian wallet providers—have been required to register with De Nederlandsche Bank (DNB). This registration primarily focused on AML/CFT (Anti-Money Laundering/Countering the Financing of Terrorism) compliance, requiring firms to conduct Know Your Customer (KYC) due diligence, monitor transactions, and report suspicious activities to the Financial Intelligence Unit Netherlands (FIU-NL).

The advent of MiCA, which entered into force in June 2023 with key provisions applying from December 2024, marks a significant shift. The Dutch Authority for the Financial Markets (AFM) is now responsible for issuing MiCA licenses to CASPs operating in the Netherlands. Applications for these licenses have been open since April 22, 2024, and licenses granted will be effective from December 30, 2024.

There is a transitional period for existing DNB-registered CASPs. These firms must obtain a MiCA license from the AFM or another EU supervisor to continue providing services to Dutch users. The Netherlands has opted for a shorter transitional period than the maximum 18 months allowed under MiCA; entities must have their MiCA license in place by June 30, 2025. During this transition, two layers of supervision are concurrently active: firms must maintain their Wwft registration with DNB for AML/CFT purposes while also applying for a MiCA license from the AFM.

Cryptocurrencies themselves are not considered legal tender in the Netherlands; payments are still settled in euros. For tax purposes, private holdings of cryptocurrencies are generally treated as assets under "Box 3" of the income tax system. The tax office assesses the total value of these assets on January 1st, assumes a fixed yield, and taxes that yield. If crypto-related activities like mining, staking, or trading become a primary business activity, the income is taxed as normal earnings under "Box 1".

Both the DNB and the AFM have issued warnings regarding the risks associated with cryptocurrency trading, including market volatility, fraud, scams, and market manipulation like pump-and-dump schemes. MiCA aims to address some of these risks by introducing rules on transparency, disclosure, authorisation, and supervision of CASPs, as well as measures to prevent market abuse. For instance, MiCA explicitly prohibits pump-and-dump schemes.

The regulatory framework also includes the EU "travel rule," which mandates that for crypto transfers of €1,000 or more, identifying information of both the sender and receiver must accompany the payment. Dutch guidance also exists on how to verify self-hosted wallets.

In summary, retail trading of cryptocurrencies in the Netherlands is allowed but is subject to a robust and evolving regulatory framework. This framework includes mandatory registration/licensing for service providers, strict KYC/AML/CFT obligations, tax implications for investors, and increasing oversight aimed at protecting consumers and ensuring market integrity, largely driven by the implementation of MiCA.

Relevant Text Excerpts and Sources:

  • Status of Retail Trading: "There are currently no regulations in the Netherlands that explicitly prohibit the use and trading of cryptocurrencies." (Note: This statement predates full MiCA implementation but reflects the general legality).
  • Transition to MiCA: "The regulatory landscape for cryptocurrency in the Netherlands is undergoing significant changes, transitioning from a light 'register and report' model to a comprehensive licensing regime that aligns with the new EU Markets in Crypto-Assets Regulation (MiCA)."
  • AFM and DNB Roles: "While the DNB has held responsibility for registering CASPs pre-MiCA, the AFM is responsible for issuing CASP licenses to providers in the Netherlands since MiCA came into force." "The AFM is the supervisor responsible for handling MiCAR license applications from crypto-asset service providers in the Netherlands."
  • MiCA Licensing Deadline: "For DNB-registered crypto companies, a license from the AFM or another European supervision authority is required as of 30 June 2025." "A number of jurisdictions have/intend to implement a shortened Transition Period: ... 6 months or until 30 June 2025 in the Netherlands and Poland (for registered VASPs only...)."
  • AML/CFT Requirements (Wwft): "Since spring 2020, cryptocurrency exchanges and wallet companies in the Netherlands have been required to register with De Nederlandsche Bank (DNB) and comply with anti-money-laundering checks." "The legal definitions of “custodian wallet providers” and “providers engaged in exchange services between virtual currencies and fiat currencies” are included in the Dutch Money Laundering and Anti-Terrorist Financing Act (Wet ter voorkoming van witwassen en financieren van terrorisme, Wwft). On the basis of Wwft, providers of custodian wallets for virtual currencies and providers engaged in exchange services between virtual currencies and fiat currencies must file a registration with the Dutch Central Bank (De Nederlandsche Bank, DNB)."
  • KYC Obligations: "Crypto providers must have suitable and efficient AML & KYC processes to identify customers, monitor transactions, cross-reference sanction lists, and provide the Netherlands authorities with essential information."
  • Taxation: "Private holders are taxed under 'Box 3,' where the tax office assesses the total value of coins and other assets on January 1st, assumes a fixed yield, and taxes that yield at 36 percent. There is no classic capital-gains tax. If mining, staking, or trading becomes a real business, the income is taxed under 'Box 1' like normal earnings."
  • Consumer Warnings: "The AFM warns that trading in cryptos carries significant risks and advises consumers to ensure they are well-informed prior to engaging in it. In addition, they should only trade using their own money which they can spare."
  • MiCA Objectives: "The Markets in Crypto Assets Regulation (MiCAR) is the first package of European legislation that has been enacted to regulate cryptocurrencies and related services. This legislation applies to both issuers of crypto assets and providers of crypto services and harmonises rules within the EU. MiCAR has four interrelated objectives. The first objective is to provide legal certainty... The second objective is to support innovation... The third objective is to ensure the required level of consumer and investor protection and market integrity."
  • Implementation of MiCA: "The Implementing law of the MiCA Regulation entered into force on 30 December 2024."

Direct URL Links to Sources:

  1. (No specific link for a general introductory statement, but overall context is drawn from all sources.)
  2. Wyden: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHv59tDyhQno9EfJ6w4a46aXdva330Uup1WYLYgJ9u5uHhBlQLJ7R3EHNy9cnQEFs1ocRRSBji4tvQItSqMTUO8Rjke0ZN85likhoK6ec1juzhxV4gLGs4Qd0drGaJXVy5eWBDwXkVG-OdN9y-c_KTswar51HuQQPWHqe_B9xzsquBVD0MRurb4eX-uQGua7Fvgp4BghqD0Jb14Qw==
  3. AInvest: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFbyluwcHz3A7DQt2px8xQrGuhrThbAOClljiyyfJLWekml45MFTIperK5KehsvnAlz477evfzpF5Zk1oeujoCgyaoZGRTzgdbU-SLahCTAnLC7bKFh9TzygppCzwec8kfoZg-e3TfUSeBDEmSR0HS_fGMoEioQfGt4HPI-ho0MIZrVvoD0N3wqv5AUlTrkEYk=
  4. CMS Law: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGfOJ_iqHki29yoieWf1dWjcVsE5h_JqXpLmEGPf8OuKrfL-4yQ3cUns0XOYKO8gfE5kd6OiGBnrMnV5Uskng3Fa0LAKWWSetVqd-tPCJxj_lYP_FcSGPKoEJgP1Q6i7MLmA1neS3EB7HNPcKDqYp3ssAm79Ij04F_YL7wM9u0rgsF9d4rGmJTlfjxOwS_hqSDeapss_w==
  5. Coinfomania: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHCoEOU_2JOkN-EGuPRfs6pb1JVGUab0ARSAQzkfi5AMufc_EQJs5SKEhuqpfY5sUcyCa7ktZkj7KlF3s3uv3JcO4VZRjs0bYTjerIP_gxgCfoJYjDJZ1P2MxhICLHM6yrhauQe1_j4GAdzsicmVb2iAXzTu-V2SSkjzljX2xPS3g==
  6. AFM (Markets in Crypto-Assets Regulation): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFvvOjy5opekjbnxrIZ2zpanMDoYuT0vklHBQUGKhaqWwb6iMpX74Go6GpUCA-e_DndHWdEhc1-Akw6EBw7hwdZUne96wQXH-p-EDxWHKbIm1nCQSbTYiSGkBhVelbKAxk6LLdAIYS9dF7yuzv8NlzKAMyU1vUdiwTVi8K78zZwbo40fV86L7Xe3EL-SefY5aYOkDbrEihK1FIZEXmFLfX75Zj8ug==
  7. AFM (Pump-and-dump warning): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFJV_lVTCQOdJHdK6aXpcupPydSsFUKLUXsaqNHos9ol07QJV7BibQ4IAboeXRj3iI4pGkGIUqrp2Yv519lNMQ3TlN4Vh0vQsUJeqVd7Pr8au3dZiw27n1So9SEBbTUemQgU5peDUt3zxYvAFP358dE3Hh8qcwdITdaMFM=
  8. AFM and DNB (Joint advice on regulation): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGgkZc3KvpyeOVfogzCWTkU0xYV006qa2LEZPhnmt5ROmFkgK9WiNeDQwX9ZKRnZGnX4g5bLNId1ts7wykgVi3OZQt79ylMa0EMWJ8hBFJvXXS8G3Z8xgtkxK4yTQWoQylFY4-GrL2JBRyeKPWrKV5XD80Yhn7JM7tbuFWtkA==
  9. Cointelegraph (Dutch regulator warns of pump-and-dump): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEB09D_A8T0SG8UHbI4FLxt6vElJtRTvDZF4KTIzt7tBSs_PpGu3-GSP_RygsgDhiFJpJ0soapTlsXQbW4u0CNt0nj5ED3laPGqRAmSMd8cdacpdwj1bx33fU7mJtYCj0yF8QZetSaVwVf3wYsy8u_cNhKyGe8cXneKo1CMt3kkr2hqjTL6tmXGPKcD
  10. AFM (Crypto companies): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGACXOvNoUGLoMwJdYZTr-8uoz3RJLc84Iz6zCIV03CgNjiqF7zu83EGHzj9T-VScnGz3TnZO77iE25e8u9PPxah5S8XO3wTASlbjIZKCRQ76UPp-K9n2EVKTVNbb7FdmjMopy-jtc=
  11. Binance Square (Netherlands Warns of Pump-Dump Risk): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGfYk9A6p22E8DXInRz2KW49ZfdUu0AQJFWzociYjq-3Fkg7ORbUd8rTQSXLuhZyiUuEg1NKJu5_zg-LuNYzttpjoDtUNaE_AtYBfzRCO5nHvyYdrfyxtG0pQ8m6KYIT3up4aUPIekI7SRf29LUiavC
  12. Manimama Law Firm: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHy-y3fZ29OCBVWrePfwH8Z8Eap6LbRmqGsDDy-2obOCpZ3W2Tt9HFJRV8nL6176pH5M4Xtsy1c2r3DnKqvGXddYNaEX-AqpMrzC5Yt6wPZt8jzmm1ddklf2LcHfty2mlxeholquMcnx9jaKaakjjmFnTSIyuKYbn-Khc2ltTDlOT0=
  13. Shufti Pro: https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGeQ3Ndzu0hutgXJJtjUZBHE8yVSZfnJcBFGrLMKmsZPMHadsc3z5tNQV4VhvWG5KgjQorKKGay3rRYO9n18sISPGIRoGpDxC8iw1In8_2arJbCKtT2G7u2FbbnxCV4gbDs-_rivEho2EtWruKwLWdJGl63yF8p19fnDjrriop6PmBaTwHrSXsnrBorEwwB2EXW9g==
  14. Watson Law (AMLD5): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEKyqu6M343yCE70XUChHVNc4e9zE3RMpRah3CT8_ygrask5ikwAbYR7EgqApJ5HInfvW1e-rA8lb9old3UY7e3ukICK4zQksAuJWkkqDgbIAvxaFPpyVrPTvKTNunALpKG5rx_UCna9KDrggPb8qIMV6TCAx5WpA==
  15. Aosphere (MiCA Implementation Tracker): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGlTAv1M0Bv-On986F0ibytPP_m8iP_WQ-90zdD_9SKzFhlkjaopwXPgn2o0W60nAd4S70uXqbH7J7yEuHb_6t4Y75lPpMdlWyITc8OGbuD1euwPVdBV3j0CNCcRmyoQ1H-lYnxsFcjD7oxkipx3vIkhTbYmGy0OaS-SpSCvQlvoPctMHNk63_gXcEMDs9iKmZ4
  16. Business.gov.nl (Better protection for buyers of crypto-assets): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHgXvnxy89zaSSyIQ2sUXTEFzTKrRgG1dZjUKLR6MIAvCT9DV9fmnbgSk8rqlzLxdw05ljiVHxyQGMXUjVKXvMoUVMdh1TnO1FtoEtWIEtK52CZKpy1wcHiZgvrFw1zWP941jzwlfshKWGE15r4gWvHpfU-G_O18vbaOJmPgQ==
  17. AFM (Cryptos in the Netherlands: current state of affairs - 2018): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGMlHqRn86nZuYULiEEbZtV3AlglOE4uGcUSV6M_F19jWlIo-6ZV96fEcerujDuUCAhuI86u1Gt2b0IMIArk140YN-K86Gt6ApjVbx7io4nOHASQrB2xQVKoSjmeXH0Mb1lqAw71G6od7kGnDLDqGKfCZxP3AjGMGVko4npe8dQqTlAvTwbnpzvyB5xfCudxg8HbHtW0PdeKuPMzFmuHeXOG_-N3L1fVCA=
  18. Freeman Law (Netherlands and Cryptocurrency): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHdmCTpJ-_mfCddmr5kdJwExUIeyU2kp6N7b-82HnFt5zam4zsSURT_TQXfSZ9BHUrjdUI0Fh_tZxLjhLrkbvn59Vb8YPzZQpcSx1Eox5AEwd5lsfffaPMkkgFNOptTHFh8roetYdRPPkhV6As8 (Note: Some information may be less current than MiCA-focused sources).
  19. Blenheim (Anti-money laundering legislation): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQFqR8EYMNwVN7GBC3XgXQ_6wSFEpyRPsZNJa0wMJuZeYteWrlHiakTvpi0Ph0zv0EpJra4hgCGWTY3BAtP2r0zSwQvTnfXpkFu7LLwuZsrXaK5wmtjq1K0D3nmkqS2mbWqnrBdMqSj7EJBLM9LTUEmJf9NE9adhIeKe5L5jFtj1cNX_Gu-ihPBnKek=
  20. Scorechain (Netherlands MiCA License 2025): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQGd-xBNGJCQtDUwKlOrL-vAYRs2PA0iIEgIULXnmApzEV8yi2t1qOLrbIJOPfLv8yHCPWtbT0u_Cw_wDEgEXwf1aJyMopNpDnkEwDHNQVDZaG0TGqn_Nq9qPRco8O9EXYsUHyeo0tPPVvjk-Fjem-tmR45NFB2glJgQ0i7ockK1TQlSY5d5 (Note: Some dates mentioned regarding DNB's role post-MiCA might need cross-verification with AFM's primary role in licensing).
  21. Sumsub (Cryptocurrency Regulation in the Netherlands): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEbAV1Q8j1hsaUPL8p-j7MGBjqlLqms6iy9p8cWHyI2WnCyz94tyk_GPgfuQjYNjpNtm2jgYCqs-3-reVNMzK2JcQknCA4Ev3_5K_lg8FcN_3Kbb7NJdg0bQpxZGRMRu7YJzcJQYIjwNdvLXlA=
  22. Trivvy (Cryptocurrency): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHzjErXLU4CG2RTofA7OWdsgEkwXhbwsc10RbllZwxppQg4iauC32bseAsaXwm48v2dAdNmzB28DkhWO3R4TfUnHNUCm8GpUOpKHZkjOSfQammqM6lKJopmKgi1Iwf9yWFNEkyJ-Y6BRyIuaXojII0ZPkM=
  23. IOSCO (Alerts Network - general reference to regulatory vigilance): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHFNS6ZuWSwSoB6oaed8sNGKkavTeb3x4_SzWsjRYo3MvOOhbOU43owEIf5XzStlRbgi6NvPy8r-112g8IvjCOZa3IzC0lb2JGxBXjs5FrxNSFGeFT0NjvJyLoYDQBxVh6myjgpxzr6hIO8o82_8dlh_tDEzP-OzZGo9E44n3VDga_7vHMkhajeA3YoO9TQ5K5f-p9uw2Yhzs0tIiLeXKiEWKzJBtpNlydCe1Fxo7EolLV39--yPzJoOtIGTIXQsExZzRmxpL7j
  24. Finance Magnates (Regulated Access to Leveraged Crypto Trading): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEDxP8-jS6toL-XFNHrIGramfpHN-QUjJ_iujhjK6oAKvkvHVNYjlv4VTUCQ52JAm8dYNxYdwNwEpb5Vm0go-z4XvAK-2C4D6y4uhhc6_JqJ-Ok1HK0x7lTv2oxjNwBeFf6wSwXHoA1RdIebEhe5ncGT9MKu-ZdhggI527FOzLiQ6ZxBWA62p-wYAKAGKidd5mHxuJVy35SyiqFi4CLCbfiT_L7WOyesKGrYCaoMA==
  25. Fieldfisher (Netherlands: Crypto-asset regulation): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEFcPoSbm7TBqX0_w6get5aNWsxwP1YJhuIU3RuTSqb-Tst3gOR3ZkW5sg4sB_sXMKH4GtxjeAxk_w7Nz9Z1pJNZ9z5_zktaCM5k6Scyb81qZMn48RMoD9zW-IIpC3Ai5k8g389ASL-FKL7WIh8lZuG9rNOItBsGpEEW7hPufCMNnfCH3u3dQ==
  26. Houthoff (Dutch Central Bank publishes two new regulatory developments): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQEmldezrW8Si2xDx1zbwMbdCF1SBS0c89mUuDNf8_fIZdWJi9e12zABe4qrwFvIg4-lzlqDROHl1q46fZa0wG-QN180unc5LzlH8vkrz0W8EK3ZIb9llrdLsO0RZeb74pAVwvXaFkSTXGivT3Wl0CgXCL9tBMJsHYb4ARX3SvyK4E499Fw2IRrx9Gk0Dsvn4IJYUvhV8-ioQ7kA2ZrogPOAklLB8xdjNsHp10fsCz4MbIKe5kfsde4c8u-4uPtGIKLsccyz2ISDo-2p
  27. Simmons & Simmons (Dutch court criticizes crypto policy): https://vertexaisearch.cloud.google.com/grounding-api-redirect/AUZIYQHDZNAYXsRacWLTAxWucnFAqDLX-a9Fdnr_WcEjqsFTRBM4-94FmydXoLdaubKZeDxYxTHIpGI2F_K0GJHwABiRVrkxEtz5XeqqzeDBS0AHFc3Vfna1vYHwV8PaQMIwvUQ1ovCt3oLOf3kjGO0DDFk_MtqJ83sBoOEB-t0N1VsoPvz5L7oFBNlme0JqZBJimHoiLlZxWbTRCiSfhR1T9aPdjpS1AuQc57Q4ETRwosjl4TjzvMndi8jCgM46vSSg9Aya (Provides historical context on DNB's earlier regulatory approach).

Web Sources (16)

Sources discovered via web search grounding

Search queries used (6)
  • retail cryptocurrency trading Netherlands regulation
  • Netherlands crypto regulation AFM DNB
  • KYC/AML crypto Netherlands
  • MiCA regulation Netherlands implementation
  • Dutch central bank cryptocurrency policy
  • Netherlands financial markets authority crypto warnings
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