The Dutch Central Bank (DNB) is asking users of the exchange, down to what their intention to buy Bitcoin is.
Netherlands-based Bitcoin and cryptocurrency exchange Bitonic announced that the company was forced to take additional user verification measures that go well beyond the applications found in other European countries.
“From now on, we need to ask for additional details about you, such as the purpose of buying Bitcoin and what type of wallet you are using,” the exchange told its users. said.
The information requested by the Dutch Central Bank (DNB) about users is not limited to this. Moreover, Bitonic said, “We also have to verify that you are the legal owner of the given Bitcoin address by requesting that you upload a screenshot from your wallet or sign a message.” says.
Bitonic also stated that they found these measures ineffective and disproportionate from the central bank and repeatedly requested their removal, but their appeals had no effect.
Due to heavy legal requirements in the Netherlands, many cryptocurrency companies have moved their headquarters here to other countries of Europe, some have changed continents. For example, the crypto derivatives exchange Deribit, previously headquartered in Amsterdam, moved to Panama in February.