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Cookie-instellingen DNB maakt gebruik van cookies Om de gebruiksvriendelijkheid van onze website te optimaliseren, maken wij gebruik van cookies. Yet that is what happened in the Rotterdam court in summary proceedings on Tuesday. The case was brought by the Amsterdam bitcoin company Bitonic.
This autumn, it received the required registration from DNB as a bitcoin exchanger and bitcoin depository for Dutch customers. Bitonic only strongly disagrees with how this registration came about. Bitonic, like other financial companies, must comply with the rules on the prevention of money laundering and terrorist financing and with rules arising from the Sanctions Act. The latter means that the company must know its customers well in order to prevent a criminal, terrorist or person on an international sanctions list from using its services.
For the same reason, the company must monitor the transactions of its customers.
Bitonic stressed several times in court that it does not question whether these legal requirements must be met. The company only asks whether it should be done as DNB seems to require: every time a customer makes a Bitcoin transaction to his or her wallet in which you store cryptocurrency , a screenshot of that transaction should be taken to verify that wallet is really in his possession.
With that, a bitcoin company should go further than a bank or non-life insurer. According to Bitonic, the requirement also violates privacy legislation. The bottom procedure is still in the start-up phase.
Bitonic also believes that the regulator has set too stringent requirements in advance for the registration. This would in fact constitute a license.
Earlier, the Dutch government should have decided against a licensing system from the Council of State, because it is contrary to European rules that only allow registration for bitcoin companies. The purpose of registration alone was to get as many bitcoin companies as possible on the radar of the regulators.