The Central Bank of the Netherlands requires exchanges to implement additional user verification measures

Dutch cryptocurrency exchange Bitonic was forced to implement additional user verification measures due to the requirements of the country's Central Bank.

In a notice posted this week
Bitonic reported, what will now ask users additional information, eg, The purpose of buying crypto assets and information about the wallet used.

According to the statement, The exchange must receive evidence from customers, What they are – "Legal owners" BTC addresses. Users must confirm this, By uploading a picture of the screen of your wallet or signing a message with BTC address. Bitonic leaders called the requirements "ineffective and disproportionate", stated, that they repeatedly asked the Central Bank to cancel them.

De Nederlandsche Bank NV (DNB), Central Bank of the Netherlands, applies the law on sanctions in the Netherlands to cryptocurrency exchanges, To make sure, that their users and beneficiaries are not included in the sanctions list of the Netherlands or the European Union.

“The Netherlands are the only country in the European Union, which sets such requirements for exchanges ", – claims Bitonic.

The exchange urged users to “officially express disagreement” with the position of the Central Bank regarding additional requirements and data collection.

As of the first half of November, thirty -nine cryptocurrency companies submitted applications for registration with the Central Bank of the Netherlands, including cryptocurrency exchanges and cryptocurrency wallet operators. In the spring, information appeared, that tightening regulation in the Netherlands can lead to the closure of cryptocurrency companies. Last month, the Central Bank Netherlandov issued the first license to the AMDAX BV cryptocurrency startup.