Netherlands-Based Coinbase Customers Required to Submit KYC Data When Transferring Crypto off the Platform – Regulation Bitcoin News
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On June 27, 2022, Dutch-based users from the Netherlands will be required to provide KYC data for non-custodial and third-party wallets. The 1977 Sanctions Act is codified by the Dutch Authority for Financial Markets (AFM) and Netherlands Central Bank (DNB) This means that the company must identify who the crypto transfer is going to and the purpose of the transaction. Jeff Garzik expects the KYC rule to expand beyond the Netherlands, but there’s concern the regulatory approach could happen in other countries. The new rule is only for Dutch customers in the Netherlands. Source