Policy
Share this article

Dutch Crypto Exchange Adds Extra Verification Measures Citing 'Disproportionate' Central Bank Requirements

The exchange said it must now ask users for extra information such as the purpose of bitcoin purchases.

By Daniel Palmer
Updated Sep 14, 2021, 10:32 a.m. Published Nov 18, 2020, 2:10 p.m.
The Dutch central bank building in Amsterdam.
The Dutch central bank building in Amsterdam.

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.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the State of Crypto Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

  • 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.

See also: Dutch Central Bank Gives First Approval to Digital Asset Exchange

ExchangesNetherlandsRegulationCoinFlash

More For You

Protocol Research: GoPlus Security

By CoinDesk Research
Nov 14, 2025
Commissioned byGoPlus
GP Basic Image

What to know:

  • As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
  • GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
  • Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
View Full Report

Plus pour vous

40% of Canadian Crypto Users Flagged for Tax Evasion Risk, Canadian Tax Authority Reveals

Par Olivier Acuna|Édité par Nikhilesh De
il y a 1 heure
canada fintrac

Canada’s tax agency says legal gaps limit its ability to track crypto-related income as it recovers $100 million through audits and pushes for tighter regulation.

Ce qu'il:

  • The Canadian Revenue Agency reports that 40% of crypto platform users are evading taxes or are at high risk of non-compliance.
  • CRA's cryptoasset program has 35 auditors working on over 230 files, resulting in $100 million in taxes collected over three years.
  • New legislation to combat financial crimes, including crypto tax evasion, is expected by Spring 2026, as announced by the Minister of Finance.
Lire l'article complet